City of Santa Rosa City Council Regular Meeting Agenda 2026-06-02
City to Amend CalPERS Contract for Fresh Start UAL Plan
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Description
The Finance Department is seeking approval to amend the City’s contract with CalPERS to initiate a Fresh Start re-amortization of its pension unfunded accrued liability and apply $26 million in restricted pension funds. The move aims to reduce long-term pension costs and shorten the payoff period for the $482 million UAL.
Contract Details
Contract Amount
Use of $26 million in restricted pension funds; total UAL $482 million
Vendor
CALPERS
Agency
Santa Rosa Water, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
Renewal Info
This action amends the existing CalPERS pension contract to modify amortization terms; it is not a traditional term renewal.
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