City of Santa Rosa City Council Regular Meeting Agenda 2026-06-02
City Moves to Amend CalPERS Contract for Fresh Start
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Description
Finance staff recommends amending the City’s contract with CalPERS to implement a “Fresh Start” re-amortization of its $482 million pension unfunded liability, leveraging $26 million in restricted pension funds. The change is intended to reduce long-term costs and accelerate debt payoff.
Contract Details
Contract Amount
Citywide $482 million UAL referenced; $26 million in restricted pension funds to be applied
Vendor
CALPERS
Agency
Santa Rosa Water, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
Renewal Info
Amendment will modify amortization terms of existing CalPERS pension contract under the Fresh Start program.
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