FINANCIAL_SERVICESONGOING

City of Mill Valley Staff Report 2026-2028 Two-Year Budget and Financial Management Report 2026-06-15

Mill Valley Continues Annual CalPERS Pension Payments

Roughly $5,000,000/year; peak $6,800,000/year in 2031City of Mill ValleyCALPERSJune 15, 2026

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Description

Mill Valley makes annual payments to CalPERS for its pension liability, budgeting $5 million per year with peak payments expected in 2031. These payments help address pension obligations through a long-term financial schedule to 2044.

Contract Details

Contract Amount

Roughly $5,000,000/year; peak $6,800,000/year in 2031

Vendor

CALPERS

Agency

City of Mill Valley, CA

Contract Type

FINANCIAL_SERVICES

Document Date

June 15, 2026

Contract Term

Annual; projected through 2044

Renewal Date

2044-06-30

Renewal Info

Payments are annual; schedule extends through 2044; amounts subject to actuarial determination and pension reforms.

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