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IMPACTS TO CITY BUDGET H (ALL FUNDS) -- Average annual ....I Se'EM 1 increase of 137 %over : $MM .n to:ea °6aon I ,the neM five Yeats SLIM g [ree:n 575.1M poo $sno Sso 0 Eno a Sao 0 Sza o 9w.o FvzuaE nuaz Pvzz.za J Pme[1ad ProeRatl pre�aRotl ®•enenl Fund amnloyer ContrlLuOon 23 LEAGUE OF CALIFORNIA CITIES PENSION STUDY • Local agencies comprise approximately 40 percent of all CalPERS members. • Local Leaders, comprising of mayors, council members, city managers and finance officers shared their own cities' stories and concerns during meetings in September & November 2017. • The message delivered was: the "employer just paying more" option is no longer viable. • Following these meetings where local leaders gave voice to the challenges they face delivering services as pension costs increase, the League decided to commission this study. • Key Findings: 1. Rising pension costs will require cities over the next seven years to nearly double the percentage of their General Fund dollars they pay to CaIPERS; 2. For many cities, pension costs will dramatically increase to unsustainable levels; and 3. The impacts of increasing pension costs as a percentage of General Fund spending will affect cities even more than the state. Employee costs, including police, fire and other municipal services, are a larger proportion of spending for cities STRATEGIES TO ADDRESS RISING PENSION COSTS CITY COUNCIL MINUTES 10A 88 FEBRUARY 5, 2018 9e.sm r�<reae® mnrense "' 6of8M �2.3M 4S.1M FV1Jw Nww R']PEd ERlme<ud PmJeRetl Pioetred I Mm U-1 Fund FvzuaE nuaz Pvzz.za J Pme[1ad ProeRatl pre�aRotl ®•enenl Fund amnloyer ContrlLuOon 23 LEAGUE OF CALIFORNIA CITIES PENSION STUDY • Local agencies comprise approximately 40 percent of all CalPERS members. • Local Leaders, comprising of mayors, council members, city managers and finance officers shared their own cities' stories and concerns during meetings in September & November 2017. • The message delivered was: the "employer just paying more" option is no longer viable. • Following these meetings where local leaders gave voice to the challenges they face delivering services as pension costs increase, the League decided to commission this study. • Key Findings: 1. Rising pension costs will require cities over the next seven years to nearly double the percentage of their General Fund dollars they pay to CaIPERS; 2. For many cities, pension costs will dramatically increase to unsustainable levels; and 3. The impacts of increasing pension costs as a percentage of General Fund spending will affect cities even more than the state. Employee costs, including police, fire and other municipal services, are a larger proportion of spending for cities STRATEGIES TO ADDRESS RISING PENSION COSTS CITY COUNCIL MINUTES 10A 88 FEBRUARY 5, 2018