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Extraído del Informe Consolidado
Esta investigación fue publicada originalmente como parte de un informe consolidado más amplio que contiene múltiples investigaciones. Consulte el PDF consolidado para ver el documento completo.
Lake County Grand Jury
• 2015-2016
F4 Neither the County, Clearlake nor Lakeport have Pension Committees
⚠️ 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 4 findings
F4
Page 33
Neither the County, Clearlake nor Lakeport have Pension Committees that oversee pension plan administration, compliance or costs.
No recommendations for this finding
F5
Page 33
The role of the pension plans in total employee compensation is not clearly articulated. It is not obvious how it fits in the total compensation structure.
Related Recommendations (1)
R5
Page 33
A policy statement be developed to serve as a guide in program administrative, plan funding, and as a communication aid to participants and the public. (F5)
F6
Page 33
Employee satisfaction with the pension plans is unknown.
Related Recommendations (1)
R6
Page 34
An employee survey be conducted biannually of both active and retired employees to assess the cost/benefit effectiveness of their pension plans. (F6)
F7
Page 33
Lakeport and the County are proactively reducing their unfunded pension liability.
Related Recommendations (1)
R7
Page 34
Clearlake be more proactive in reducing its unfunded pension liability. It should review Lakeport’s plan to determine if that approach would be beneficial. (F7) Request for Responses • Lake County Auditor (60 days) • Lake County Board of Supervisors (90 days) • Lakeport City Council (90 days) • Clearlake City Council (90 days) Bibliography 1. CalPERS web site (https:/www.CalPERS.ca.gov/). 2. Circular Letter 200-032-09 (https:www.CalPERS.ca.gov/page/employers/policies-and- procedures/circular-letters). 3. Net pension liability (https:/www.CalPERS.ca.gov/docs/forms- publications/gasb-68-net-pension-liability-employer-2013,pdf). 4. 2014 pension results (https:/www/CalPERS.ca.gov/docs/forms- publications/gasb-68-schedule-pension-amounts.pdf). 5. California Public Employees’ Pension Reform Act (PEPRA) effective January 2013 (http:/www.publiclaegroup.com/wp- content/uploads/2012/12A-Guide-to-Pension-Reform-Under- AB340-and-AB-197.pdf). 6. Acceptable levels of solvency for pension plans (http://etf.wi.gov/news/morningstar-report2013.pdf ).
Additional Recommendations 3
These recommendations are not explicitly linked to specific findings.
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R1Page 33A summary Annual Pension Report be compiled and reported annually to the governing bodies of the County, Clearlake and Lakeport. This report should include: • The annual cost • A breakdown of the funded and unfunded liabilities and comparison to established policy or goals • The plan benefit formulas and any changes • A summary of plan investment results • CalPERS administration costs • Benefit payments made • Pending or projected changes or issues
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R2Page 33This Annual Pension Report be posted and made available to plan participants and the public. Most of this data is available in the CalPERS GASB 68 reports.
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R4Page 33The County, Clearlake and Lakeport establish a specific percentage of funding (Goal) by next fiscal year that must be achieved. The goal and actual achievement would be reported in the annual report per Recommendation 1 and