Questions as stated in Sunday’s newspaper:
“What must the county do to address its PERS retirement funding situation?”
Bains said the county has a plan to chip away at the unfunded liability portion of CalPers.
Conant says the county has set aside $1 million a year to help fund the debt and CalPers should start making money again.
Thiara says he understands the U/L issue, the county should look for more revenue.
Buckland says CalPers only gained 6.9% on their investments last year and must look for better investments.
Micheli says the county screwed up in 2004 and should now reduce its debt plus push for better investment revenues.
Sullenger says we should hold CalPers responsible and sees a ZERO balance in the future.
Brookman says only way to solve the problem is with more money. Must attract more businesses and tax them to pay for CalPers. An Indian casino would have helped.
Maan says the situation is improving. The county has taken the right steps by setting aside money to help with the issue.
The candidates focussed only on the unfunded liability problem, however they overlooked the entire pension issue and didn’t answer the question.