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Pension and OPEB

Mina Martinovich, Department of Finance

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Index

2020

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2020
Total LiabilitiesA 693,525,061
Total Deferred Inflows of ResourcesA 90,999,579
Annual Operating ExpensesA 569,541,426
   
Pension  
Net Pension LiabilityB 188,585,487 
Annual Pension ExpenseB 46,127,486 
   
Actuarial Liability 2,161,500,000
Actuarial Value of Plan Assets (1,924,000,000)
Unfunded Actuarial Liability (UAL) 237,500,000 
Funded Ratio based on Actuarial Valuations 89.0%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2019
   
Other Post-Employment Benefits (Retiree Health)D  
   
Total OPEB Liability (TOL)D 321,591,000
Fiduciary Net Position (FNP)D (115,277,000)
Net OPEB Liability 206,314,000
Funded Status (FNP/TOL) 35.8%
   
Actuarial Accrued Liability (AAL) 321,591,000 
Actuarial Value of Plan Assets (Plan Assets) (115,277,000)
Unfunded Actuarial Accrued Liability (UAAL) 206,314,000
Funded Ratio (Plan Assets/AAL) 35.8%
   
Underlying OPEB Data - Actuarial Valuation DateE 7/1/2019
Underlying OPEB Data - Measurement Date 6/30/2019
   
OPEB ExpenseD 7,485,000
   
CERBT Trust BalanceF 124,579,729
   

A Source: Comprehensive Annual Financial Report (ACFR); Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in FY 2014-15. These requirements include that, for governmental financial reporting purposes, Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, established new financial reporting requirements for employers, and was implemented in FY 2017-18. These requirements include that, for governmental financial reporting purposes, total Net OPEB Liability be reflected on the employer's balance sheet along with the annual OPEB Expense.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years. If an actuarial valuation is not performed as of the measurement date, the total OPEB liability is required to be based on update procedures to roll forward amounts from an earlier actuarial valuation.

F In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

*Updated procedures were used to roll back the total OPEB Liability from the valuation date (7/1/17) to the prior measurement date (6/30/16)

2019

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2019
Total LiabilitiesA 777,932,471
Total Deferred Inflows of ResourcesA 37,680,401
Annual Operating ExpensesA 552,285,870
   
Pension  
Net Pension LiabilityB 183,525,363 
Annual Pension ExpenseB 37,065,452 
   
Actuarial Liability 2,068,100,000
Actuarial Value of Plan Assets (1,856,900,000)
Unfunded Actuarial Liability (UAL) 211,200,000 
Funded Ratio based on Actuarial Valuations 89.8%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2018
   
Other Post-Employment Benefits (Retiree Health)D  
   
Total OPEB Liability (TOL)D 383,256,000
Fiduciary Net Position (FNP)D (99,919,000)
Net OPEB Liability  283,337,000
Funded Status (FNP/TOL) 26.1%
   
Actuarial Accrued Liability (AAL) 370,692,000
Actuarial Value of Plan Assets (Plan Assets) (84,626,000)
Unfunded Actuarial Accrued Liability (UAAL) 286,066,000
Funded Ratio (Plan Assets/AAL) 22.8%
   
Underlying OPEB Data - Actuarial Valuation DateE 7/1/2017
Underlying OPEB Data - Measurement Date 6/30/2018
   
OPEB ExpenseD 20,555,000
   
CERBT Trust BalanceF 115,336,569
   

A Source: Comprehensive Annual Financial Report (ACFR); Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in FY 2014-15. These requirements include that, for governmental financial reporting purposes, Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, established new financial reporting requirements for employers, and was implemented in FY 2017-18. These requirements include that, for governmental financial reporting purposes, total Net OPEB Liability be reflected on the employer's balance sheet along with the annual OPEB Expense.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years. If an actuarial valuation is not performed as of the measurement date, the total OPEB liability is required to be based on update procedures to roll forward amounts from an earlier actuarial valuation.

F In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

*Updated procedures were used to roll back the total OPEB Liability from the valuation date (7/1/17) to the prior measurement date (6/30/16)

2018

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2018
Total LiabilitiesA 803,941,525
Total Deferred Inflows of ResourcesA 29,203,301
Annual Operating ExpensesA 555,572,010
   
Pension  
Net Pension LiabilityB 207,841,379
Annual Pension ExpenseB 42,997,689
   
Actuarial Liability 1,981,700,000
Actuarial Value of Plan Assets (1,719,900,000)
Unfunded Actuarial Liability (UAL) 261,800,000
Funded Ratio based on Actuarial Valuations 86.8%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2017
   
Other Post-Employment Benefits (Retiree Health)D  
   
Total OPEB Liability (TOL)D 370,692,000
Fiduciary Net Position (FNP)D (84,658,000)
Net OPEB Liability 286,034,000
Funded Status (FNP/TOL) 22.8%
   
Actuarial Accrued Liability (AAL) 370,692,000
Actuarial Value of Plan Assets (Plan Assets) (84,626,000)
Unfunded Actuarial Accrued Liability (UAAL) 286,066,000
Funded Ratio (Plan Assets/AAL) 22.8%
   
Underlying OPEB Data - Actuarial Valuation DateE 7/1/2017
Underlying OPEB Data - Measurement Date 6/30/2017
   
OPEB ExpenseD 20,802,000
   
CERBT Trust BalanceF 99,995,179
   

A Source: Comprehensive Annual Financial Report (ACFR); Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in FY 2014-15. These requirements include that, for governmental financial reporting purposes, Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, established new financial reporting requirements for employers, and was implemented in FY 2017-18. These requirements include that, for governmental financial reporting purposes, total Net OPEB Liability be reflected on the employer's balance sheet along with the annual OPEB Expense.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years. If an actuarial valuation is not performed as of the measurement date, the total OPEB liability is required to be based on update procedures to roll forward amounts from an earlier actuarial valuation.

F In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

*Updated procedures were used to roll back the total OPEB Liability from the valuation date (7/1/17) to the prior measurement date (6/30/16)

2017

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2017
Total LiabilitiesA 683,932,946
Total Deferred Inflows of ResourcesA 20,747,690
Annual Operating ExpensesA 513,899,153
   
Pension  
Net Pension LiabilityB 260,044,342
Annual Pension ExpenseB 44,974,687
   
Actuarial Accrued Liability (AAL) 1,872,400,000
Actuarial Value of Plan Assets (1,575,200,000)
Unfunded Actuarial Accrued Liability (UAAL) 297,200,000
Funded Ratio based on Actuarial Valuations 84.1%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2016
   
OPEB  
CERBT Trust BalanceD 84,625,991
   
Actuarial Accrued Liability (AAL) 349,063,000
Actuarial Value of Plan Assets (54,688,000)
Unfunded Actuarial Accrued Liability (UAAL) 294,375,000
Funded Ratio based on Actuarial Valuations 15.7%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2015

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

2016

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2016
Total LiabilitiesA 634,213,591
Total Deferred Inflows of ResourcesA 68,041,428
Annual Operating ExpensesA 480,669,901
   
Pension  
Net Pension LiabilityB 203,688,484
Annual Pension ExpenseB 24,035,118
   
Actuarial Accrued Liability (AAL)
 1,791,700,000
Actuarial Value of Plan Assets (1,548,100,000)
Unfunded Actuarial Accrued Liability (UAAL) 243,600,000
Funded Ratio based on Actuarial Valuations 86.4%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2015
   
OPEB  
CERBT Trust BalanceD 68,114,387
   
Actuarial Accrued Liability (AAL) 349,063,000
Actuarial Value of Plan Assets (54,688,000)
Unfunded Actuarial Accrued Liability (UAAL) 294,375,000
Funded Ratio based on Actuarial Valuations 15.7%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2015

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

2015

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2015
Total LiabilitiesA 549,353,542
Total Deferred Inflows of ResourcesA 83,082,959
Annual Operating ExpensesA 464,162,734
   
Pension  
Net Pension LiabilityB 142,013,491
Annual Pension ExpenseB 17,289,129
   
Actuarial Accrued Liability (AAL) 1,712,200,000
Actuarial Value of Plan Assets (1,494,400,000)
Unfunded Actuarial Accrued Liability (UAAL) 217,800,000
Funded Ratio based on Actuarial Valuations 87.3%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2014
   
OPEB  
CERBT Trust BalanceD 53,959,761
   
Actuarial Accrued Liability (AAL) 361,711,000
Actuarial Value of Plan Assets (26,366,000)
Unfunded Actuarial Accrued Liability (UAAL) 335,345,000
Funded Ratio based on Actuarial Valuations 7.3%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2013

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. Due to the timing of the issuance of MCERA's valuation reports, the ACFR uses the preceding year's actuarial report for financial reporting purposes.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

2014

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2014
Total LiabilitiesA 403,859,611
Total Deferred Inflows of ResourcesA -
Annual Operating ExpensesA 494,556,979
   
Pension  
Net Pension LiabilityB -
Annual Pension ExpenseB -
   
Actuarial Accrued Liability (AAL) 1,560,672,000
Actuarial Value of Plan Assets (1,217,739,000)
Unfunded Actuarial Accrued Liability (UAAL) 342,933,000
Funded Ratio based on Actuarial Valuations 78.0%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2013
   
OPEB  
CERBT Trust BalanceD 42,465,727
   
Actuarial Accrued Liability (AAL) 361,711,000
Actuarial Value of Plan Assets (26,366,000)
Unfunded Actuarial Accrued Liability (UAAL) 335,345,000
Funded Ratio based on Actuarial Valuations 7.3%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2013

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. The underlying actuarial valuation report for each fiscal year is based on actuarial data from one fiscal year prior, due to the timing of the issuance of the actuarial valuation reports.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

2013

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2013
Total LiabilitiesA 408,681,657
Total Deferred Inflows of ResourcesA -
Annual Operating ExpensesA 507,914,069
   
Pension  
Net Pension LiabilityB -
Annual Pension ExpenseB -
   
Actuarial Accrued Liability (AAL) 1,491,924,000
Actuarial Value of Plan Assets (1,101,390,000)
Unfunded Actuarial Accrued Liability (UAAL) 390,534,000
Funded Ratio based on Actuarial Valuations 73.8%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2012
   
OPEB  
CERBT Trust BalanceD 26,284,368
   
Actuarial Accrued Liability (AAL) 382,720,000
Actuarial Value of Plan Assets -
Unfunded Actuarial Accrued Liability (UAAL) 382,720,000
Funded Ratio based on Actuarial Valuations 0.00%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2011

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. The underlying actuarial valuation report for each fiscal year is based on actuarial data from one fiscal year prior, due to the timing of the issuance of the actuarial valuation reports.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

2012

ACFR Annual Operating Expenses, Total Pension and OPEB Liabilities
County Of Marin As of and for the year ended 6/30/2012
Total LiabilitiesA 421,733,628
Total Deferred Inflows of ResourcesA -
Annual Operating ExpensesA 461,103,484
   
Pension  
Net Pension LiabilityB -
Annual Pension ExpenseB -
   
Actuarial Accrued Liability (AAL) 1,436,008,000
Actuarial Value of Plan Assets (1,065,255,000)
Unfunded Actuarial Accrued Liability (UAAL) 370,753,000
Funded Ratio based on Actuarial Valuations 74.2%
Underlying Actuarial Pension Data - Measurement DateC 6/30/2011
   
OPEB  
CERBT Trust BalanceD -
   
Actuarial Accrued Liability (AAL) 382,720,000
Actuarial Value of Plan Assets -
Unfunded Actuarial Accrued Liability (UAAL) 382,720,000
Funded Ratio based on Actuarial Valuations 0.00%
Underlying Actuarial OPEB Data - Actuarial Valuation Date 7/1/2011

A Per annual ACFR; Governmental activities only (excludes business-type activities)

B Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, established new financial reporting requirements for employers, and was implemented in fiscal year 2014-15. These requirements include that, for governmental financial reporting purposes, a portion of the total Net Pension Liability be reflected on the employer's balance sheet along with the annual Pension Expense.

C Pension data is actuarially determined. The underlying actuarial valuation report for each fiscal year is based on actuarial data from one fiscal year prior, due to the timing of the issuance of the actuarial valuation reports.

D In 2013, the Marin County Board of Supervisors adopted a resolution and agreement with the California Employers' Retiree Benefit Trust Program (CERBT), whereby the County entered into an irrevocable trust agreement with CERBT to pre-fund the County's other post-employment benefits (OPEB) through CalPERS, in addition to the County's regular pay-as-you-go. Funds contributed to this trust are irrevocable and are dedicated to providing benefits to retirees and their beneficiaries in accordance with the terms of the plan.

E In accordance with Governmental Accounting Standards Board (GASB) Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, an actuarial valuation is required at least biennially for OPEB plans. As such, the County conducts an actuarial valuation on OPEB every two fiscal years.

Related Finance/Budget Information

We invite governmental agencies throughout Marin to collaborate with the Marin Department of Finance to provide agency specific reporting for this site. Our goal is to create a resource that will be informative and convenient and that will provide greater transparency in local government finance.

(If you are a retiree looking for information about pension benefits, visit the Marin County Employees' Retirement Association (MCERA) website. This is the organization which administers public employee pensions for the County of Marin.)

Related Forum / Reform Information

Statewide Pension Reform

The California Legislature passed statewide pension reform on August 31, 2012 – known as The California Public Employees' Pension Reform Act of 2013 (PEPRA).  PEPRA was enacted with passage of AB 340 (Furutani) and AB 197 (Buchanan).  The Governor signed Assembly Bill 340 September 12 and Assembly Bill 197 September 13, 2012.  The new law affects Marin County and most public agencies in the state.

County staff presented an initial, high level pension reform overview to the Board September 11, 2012.  Marin County Employees’ Retirement Association (MCERA) staff presented a PowerPoint presentation on pension reform legislation on September 12, 2012 summarizing the main components of the new law to the retirement board. 

In December 2012, the Board of Supervisors adopted a policy dedicating new Public Employees' Pension Reform Act (PEPRA) tier normal cost savings over the next five years toward further paying down the County’s unfunded pension liability, which will further increase the County’s funded ratio. See the full staff report on PEPRA.

In December 2011, the Board of Supervisors adopted pension reform guidelines, which had endorsed the Governor’s 12-point pension reform plan.  An overview of Marin County government’s system is available in the publication Marin County Government Basic Facts about Pensions.

County Pension Forums and Background Information

Pension Forum (April 3, 2012)

The Marin County Board of Supervisors convened an educational forum on the evening of April 3, 2012 on the topic of sustainable pensions for Marin County government. As the Governor’s plan was debated in the Legislature, the community gathered to develop a shared understanding of the facts that could be agreed upon and also identified key differences in opinion among various audiences in the county.

Information provided at the forum included the following: 

Pension Forum (May 16, 2011)

Following is information presented in a public forum in the Board of Supervisors Chambers on Monday, May 16, 2011. This information provided an overview of 1937 Act public pension systems, and specific information relating to the Marin County pension program and related funding issues.

Information provided at the forum included panelist presentations from the following: