On Sunday, Leroy Anderson, Tehama County Auditor-Controller, Debi Bautista, Tuolumne County Auditor-Controller, and Chester Robertson, Modoc County Administrative Officer joined Lisa McCargar, RCRC Chief Financial Officer at an invite-only meeting hosted by California Public Employees’ Retirement System (CalPERS) executives and Board Members. RCRC stakeholders valued the opportunity to share information on critical pension issues facing rural counties.
Marci Frost, Chief Executive Officer of CalPERS, and other key executives from the Investment and Actuarial offices shared historical factors that have impacted the funded status of the pension system, including past discount rates, investment decisions, and contribution policies. Participants and CalPERS leaders brainstormed about the potential for innovative solutions. RCRC stakeholders were able to provide both examples and ideas on the topics of pension costs, smoothing and amortization policies, and escalating unfunded liabilities.
“The opportunity to meet CalPERS leaders on a one-to-one basis and express the issues of rural countries was helpful,” said Debi Bautista. “Having CalPERS leaders listen and understand our specific plight is very encouraging.”
Leroy Anderson echoed Ms. Bautista’s comments, stating “I found the meeting to by very informative and somewhat encouraging. The historical data helped paint a clearer picture of how the State and its municipalities got to where we are today. And, the potential impact of various options going forward were clearly articulated by CalPERS financial representatives. I appreciated that CalPERS personnel appeared to be sympathetic to the concerns of various groups impacted by their decisions and policy choices.”
RCRC continues to monitor and participate on issues related to employer relations and pensions noting that costs to most rural counties who participate in CalPERS have dramatically escalated and will continue to do so in the coming years.