Additional information on county pension costs
The IJ article about pensions (May 7) reported that the county’s unfunded pension liability in the Marin County Employees’ Retirement Association is $261.8 million.
It would be considerably larger if the county had not obtained a pension obligation bond of $112 million in 2003 to pay down its liability. The outstanding principal on that bond as of July 1, 2017 was $95.5 million, increasing the total unfunded liability for pensions to $357.3 million.
PEPRA, the Public Employees Pension Reform Act, became effective on Jan. 1, 2013. It was intended to reform many aspects and enable public agencies to control the underfunded status and save pension funding costs. Our county has accumulated savings during the past five years of only $1.9 million, which pales in comparison to last year’s required contribution for pensions of $47.4 million, which does not include the pension obligation bond cost of $9.4 million.
Effective the first of January this year, PEPRA authorizes employers to negotiate sharing 50/50 of normal costs and sharing of the unfunded pension liability cost.
Sacramento has provided these pension cost control tools. It will be interesting to see what savings, if any, the supervisors approve in negotiations, particularly savings that are not offset by grossing up salaries.
In addition to its unfunded pension liability of $357.3 million, the insert with the 2017-18 property tax statement listed the county’s unfunded liability for retiree health benefits as $294 million.
This brings the total unfunded liability for retiree benefits to $651.3 million. Summing retiree benefits costs, the total last year amounted to $79 million including the $9.4 million payment on the pension obligation bond.
— Dick Tait, Mill Valley, Citizens for Sustainable Pension Plans
Supports Pletcher’s stand on bail reform
My decision to vote for Anna Pletcher for district attorney is significantly based upon Dick Spotswood’s April 3 column that pointed out:
“A major criminal law issue separating (Lori) Frugoli and (A.J.) Brady from Pletcher is ‘bail reform.’ Frugoli and Brady are opposed, while Pletcher is leading the charge.”
Only bail reform will assure that rich and poor receive equal pre-trial treatment. A wealthy person should not, simply due to his wealth, be released on bail, while a poor person facing the same charge is kept in jail, often for many months before trial, simply because he is poor. Only Anna Pletcher is committed to ending that current injustice.
— William Rothman, Belvedere
What explains growing cost of multi-use trail?
Taxpayers should be outraged about the excuse being given for the unexpected increase in cost of the multi-use trail in San Rafael.
Public Works Director Bill Guerin cited steel tariffs and construction costs as causes for a 37 percent jump in the price tag. If the total amount of steel needed is $850,000, Trump’s 25 percent tariffs would only add $212,000 to the cost. What is the explanation for the the other $1.4 million increase?
For years we’ve been told that the reason for paying our elected public servants so much money is because that is what it costs to hire competent people who would otherwise take more lucrative positions in the private sector.
Mr. Guerin’s pay package totaled $136,176 in 2016, and will likely be a good bit more than that this year. For that kind of money in the private sector, one would be expected to deliver projects on time and under budget. A surprise 37 percent overrun would be a fireable error.
Whatever the cause of the overrun is, it would not appear to be steel tariffs. City Hall ineptitude, perhaps?
— Tom Short, San Rafael
What kind of ‘insight’ did AT&T want?
When AT&T admitted that they paid Michael Cohen’s newly formed shell company $200,000 for “insight” into the incoming administration, I’m pretty sure they coined the euphemism of the decade.
— Charles Kelly, Fairfax
Solar law reminiscent of totalitarian rule
So now Californians have no choice: The state requires them to purchase solar panels for their homes. Reminds me of the dictum of all totalitarian societies: That which is not forbidden, is mandatory. Apologies to T. H. White, “The Once And Future King.”
— Douglas Von Qualen, San Rafael
