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Newport Beach Recommends Continued CalPERS Pension Payments

City of Newport Beach logoCity of Newport Beach
Disclosed value
$45 million annually
From agendapacket
Document date
Nov 7, 2026
Renews
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The 30-second brief

What it covers

Newport Beach staff recommended continuing $45 million annual payments to CalPERS to reduce the City's unfunded pension liability. The plan targets 95% funded status by July 1, 2028, with the strategy to be revisited at that point.

Who holds it

CALPERS holds this financial services contract with City of Newport Beach. Its other public contracts on record include work for Town of Los Altos Hills and Central Basin Municipal Water District.

What happens next

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Contract details

Contract type
Financial Services
Amount
$45 million annually
Document date
November 7, 2026
Term
FY 2026-27, with annual payments projected through July 1, 2028 before strategy review
Renews
On record
Vendor
CALPERS
Agency
City of Newport Beach
Source document
City of Newport Beach AgendaPacket Finance Committee Meeting November 12, 2026 (AgendaPacket)

CALPERS's other public contracts

Town of Los Altos Hills, CaliforniaLos Altos Hills Reports CalPERS Benefit Payment · Nov 7, 2026$112.6KCentral Basin Municipal Water District, CaliforniaCalPERS Unfunded Liability Payment Recommended · Nov 7, 2026$84.1KTown of Los Gatos, CaliforniaFinance Commission Considers Additional CalPERS Payment · Nov 7, 2026UndisclosedTahoe City Public Utility District, CaliforniaTahoe City Maintains Ongoing CalPERS Retirement Agreement · Nov 7, 2026UndisclosedCity of Newport Beach, CaliforniaNewport Beach Reports $40 Million CalPERS Payment · Nov 7, 2026All CALPERS contractsVendor profile

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Questions about this contract

Who was awarded the financial services contract by City of Newport Beach?

CALPERS was awarded this financial services contract by City of Newport Beach, as recorded on November 7, 2026. The contract value is $45 million annually.

How much is the CALPERS contract with City of Newport Beach worth?

The CALPERS contract with City of Newport Beach is valued at $45 million annually, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Newport Beach AgendaPacket Finance Committee Meeting November 12, 2026 (AgendaPacket), dated November 7, 2026 from City of Newport Beach. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does CALPERS hold?

CALPERS may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Newport Beach currently buying?

Explore City of Newport Beach's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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