Title
PENSION OBLIGATION BONDS - OVERVIEW
Summary
A macro overview of the City’s CalPERS Pension Liability and a brief presentation of Pension Obligation Bonds (POBs) as a potential strategy to address the outstanding pension Unfunded Accrued Liability (UAL).
Recommendation
Recommendation:
1. Receive and file.
2. Provide direction to:
• Retain Urban Futures, Inc. to perform in-depth analysis at an estimated $15,000 cost.
and /or
• Retain validation counsel at an estimated $40,000 cost and initiate validation proceedings.