El Dorado County Grand Jury
• 2017-2018
El Dorado County 2017-2018 Grand Jury How El Dorado County Can Navigate the Calpers Crisis Case 17-06 • June 4, 2018
⚠️ Translation Notice: This content has been automatically translated. The original English text is the official version. Translation may contain errors.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 5 findings
F1
The unfunded CalPERS liability for El Dorado County is $346 million as of July 2016.
Related Recommendations (1)
R1
El Dorado County should establish a policy to escalate contributions to reduce the UAL.
F2
El Dorado County pays annual CalPERS payments monthly, resulting in interest charges payable to CalPERS.
Related Recommendations (1)
R2
El Dorado County should evaluate pre-paying the annual CalPERS contribution by paying the UAL portion annually rather than monthly to lessen interest charged by CalPERS.
F3
El Dorado County pays only the minimum amount due to CalPERS; it does not make additional payments to reduce the UAL.
Related Recommendations (1)
R3
El Dorado County should create a dedicated trust to assure that funds set aside in the budget for CalPERS costs are used for that purpose.
F4
El Dorado County has an established policy to set aside additional funding for post- employment benefits, but not specifically for CalPERS obligations.
Related Recommendations (1)
R4
El Dorado County should fund the CalPERS trust account to the maximum extent possible.
F5
Historically, El Dorado County has not provided information to the public about it’s CalPERS obligation in a way that clearly illuminates the scope of the pension obligation.
Related Recommendations (1)
R5
As part of the yearly budget process, El Dorado County should report the details of its CalPERS obligation in simple and understandable terms prominently on the County’s website and in a press release, so that citizens can understand the extent of future CalPERS obligations.
No Responses Found 2
Government entities assigned to respond to this report. No response documents have been linked in our database.
El Dorado County Board of Supervisors
Elected County Office