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DISCUSSION <br /> As previously discussed, the City has earned approximately 0.60% annually on its pooled <br /> cash through investments which is significantly less than the 7.5% and 7.61% interest it <br /> pays annually to reduce its pension and OPEB unfunded liabilities. Pre-paying these <br /> liabilities would therefore result in savings to the City through reduced annual payments <br /> to CaIPERS. As noted above, the combined $16.7 million allocation to reduce the City's <br /> pension and OPEB liabilities will result in annual savings of approximately $1.5 million <br /> and $37.9 million over the next 30-years. Given the City's capital project funding <br /> requirements, staff is proposing to commit those savings to the City's CIP. <br /> Sub died by: Approved <br /> Tina Olson Nelson Fial o <br /> Director of Finance City Manager <br /> Page 4 of 4 <br />