Pension Plans

In an effort to keep the Citizens of Pacifica aware of issues regarding one on the City's larger expenses. We have developed this page which contains Council presentations, actuarial valuations, and reports from the City financial statements. It is our hope that these documents will facilitate an understanding of this complex topic.

Pension Plan Defined

• An agreement to provide a defined retirement benefit in exchange for services.
• Funded in a trust which is an investment portfolio structured to provide enough funds to pay retiree benefits.
• Benefits are paid from the trust to retired employees on a monthly basis.
• The City contracts with California Public Employees' Retirement System (CalPERS) defined benefit plan for the majority of our employees.