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PAYING DOWN THE UNFUNDED LIABILITY&RATE STABILIZATION <br /> • Where do you get the money from? <br /> • How do you use the money? <br /> !Nt C OP <br /> December 19,2017 59 <br /> LEASANTON. <br /> WHERE DO YOU GET THE MONEY FROM? <br /> • POB: <br /> • Usually thought of as interest arbitrage between expected earnings and rate <br /> paid on POB <br /> • No guaranteed savings <br /> ❑ Including paying off Ca1PERS Side Fund <br /> • PEPRA prevents contributions from dropping below normal cost <br /> O Savings offset when investment return is good <br /> • GFOA White Paper <br /> • Borrow from General Fund <br /> • Excess Reserves? <br /> • Pay GF back like a loan <br /> • Payments should come from all funds <br /> marva <br /> l� LEAS4NTON. <br /> December 19,2017 60 <br />