Santa Barbara County Grand Jury
• 2017-2018
• Agency Response
Response to:
Pensions in Santa Barbara County
Das Williams First District, Chair Board of Supervisors
⚠️ Aviso de traducción: Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 2 findings
F11
The solvency risks to the SBCERS plans are moderate and manageable. The SBCERS decision to apply an accelerated amortization schedule to the unfunded liabilities generated during the 2007- 09 period of low asset returns is appropriate because it will shorten the period in which high employer contributions are necessary. The Board of Supervisors agrees with this finding.
No recommendations for this finding
F12
The SBCERS policy of not participating in the CalPERS risk pool is appropriate because SBCERS has achieved portfolio returns comparable to those of CalPERS over the past 25 years. The Board of Supervisors agrees with this finding.
No recommendations for this finding