Cities and counties all across the state are facing the same problem when it comes to addressing their unfunded pension liability through the California Public Employees’ Retirement System (CalPERS), which has grown significantly in the recent past and is expected to continue increasing for years to come.
Yuba City officials are planning to meet with their constituents over the next few months to devise a solution on how to address the growing issue.
“We have some information we plan to pass on to help inform the public about the extent of the situation we are all in, both our community and the state as a whole. These meetings are a way to gather input from residents on their suggestions and solutions to addressing the problem,” said Mayor Shon Harris. “The challenge we face does not have a simple fix, and where we are now, while we are doing the best we can with what we have, it will eventually come to an unsustainable point.”
Harris and fellow council member Dave Shaw are hosting the public meetings starting on Thursday. The two will facilitate six meetings – scheduled for the third Thursday of each month from 6-7 p.m. – throughout the remainder of the year.
“We’ve had a lot of folks ask for a committee. We heard their request, which is why we started this,” Harris said. “It’s not run by the council, we will only be there to facilitate the discussion, but it’s an opportunity for the public to get their input to us and hopefully come up with something constructive.”
Those that attend the workshops will be provided information regarding Yuba City’s actuarial data. The last two scheduled meetings will be focused around ideas and proposed solutions. All meetings will be recorded and posted to the city’s website.
Meeting dates are scheduled for July 18, Aug. 15, Sept. 19, Oct. 17, Nov. 21 and Dec. 19.