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Wednesday, September 03, 2014
Villa Park CALPERS vote gets attention
A move by the Villa Park City
Council to notify CALPERS -the state employee benefits system- of a notice of
intent is getting widespread attention throughout California .
The vote set for the September 23rd City Council meeting is meant to
trigger an updated CALPERS report on the city's unfunded liability for the 30
present and past employees of the city.
Two years ago a similar
report showed the small conservative city had $3.5 million liability. This month's vote to get a new report is
being hailed by Mayor Barnett and Councilwomen Pauly as a public service in
advertising the new costs recently voted by the California legislature to bolster the
CALPERS bottom line.
For a full report Click on: CAPTIOL WEEKLY