Town Of Moraga

CalPERS Unfunded Pension Liability

Town Council received a presentation outlining potential steps the Town could take to pay down its $3.6 million unfunded pension liability. The Council directed staff to work with the Audit and Finance Committee to research which options are the most viable to reduce the liability. Potential options include reducing the Town’s amortization schedule; making one-time payments; entering into an IRS Section 115 Irrevocable Trust – Pension Rate Stabilization Program; and/or designating a separate Town reserve fund to pay down the liability.

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