The Cost to Taxpayers of Enhancing Sonoma County Employee Pensions
In the early 2000s, along with many other cities, state agencies and counties in California, Sonoma County enhanced their employee pension benefits. As of 6/30/2018, Sonoma County’s pension system had $2.7 billion of invested assets, but nearly $3.1 billion in actuarial accrued liabilities. To what extent is its $400 million unfunded liability attributable to the...