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6.1.C. - Page 35
<br />Table No. 6 - Increasing Pension Costs for Cities
<br />($000)
<br />$105,638 $203,477 92.6% $13,977 13.2%
<br />California Policy Center, Ca1PERSActuarial Report Data - Cities ($=M), <htto://califomianolicvicenter.or¢/wD-
<br />content/uDloads/2018/02/CatPERS-Actuarial-Report-Data-Cities-and-Counties-w-totals.xlsx>. The California Policy Center
<br />provides pension cost data for 14 of the 20 Cities. Data for Atherton, Colma, Foster City, Hillsborough, Portola Valley and
<br />Woodside was not provided.
<br />Bartel Associates, LLC90 projects even larger increases in pension costs than Ca1PERS. For
<br />example, as shown in Table Nos. 7.1, 7.2 and 7.3, Bartel projected in 2017 that pension costs for
<br />Redwood City, Menlo Park and Pacifica will more than double from FY 2016-2017 through FY
<br />2024-2025 (which is substantially greater than Ca1PERS' projections for those Cities shown in
<br />Table 6) and are projected to continue to increase substantially thereafter through FY 2027-
<br />2028.91
<br />91 The public pension actuarial consulting firm of Bartel Associates, LLC reports having served as consultants to
<br />over 400 public sector clients since 2012 including, within the San Mateo county alone, the Cities of Belmont,
<br />Burlingame, Daly City, East Palo Alto, Foster City, Menlo Park, Millbrae, Pacifica, Redwood City, San Bruno, San
<br />Carlos, San Mateo, South San Francisco, and the Town of Hillsborough. See, Bartel website, <httr)://www.bartel-
<br />associates.com/about-us/client-list>.
<br />" It should be noted that the Bartel Associates, LLC projections on which Table Nos. 7.1, 7.2 and 7.3 rely were set
<br />forth in reports dated February 17, 2017, May 2, 2017 and September 18, 2017, respectively. They were based on
<br />Ca1PERS numbers as of June 30, 2015. Last summer, CalPERS issued updated its numbers as of June 30, 2016 and
<br />it is expected to issued June 30, 2017 numbers again this summer. Were the Bartel projections to be re -run based on
<br />the most recent Ca1PERS data, they would be somewhat different from those reflected in Table Nos. 71., 7.2 and
<br />7.3. Source: Grand Jury interviews.
<br />2017-2018 San Mateo County Civil Grand Jury 21
<br />2024-2025
<br />Average Annual
<br />Average Annual
<br />2017-2018
<br />Total
<br />Percent
<br />Total Pension
<br />Percent Increase
<br />Total
<br />Projected
<br />Increase from
<br />Cost Increase
<br />Pension
<br />Pension
<br />2017-2018 to
<br />City
<br />Costs
<br />Costs
<br />2024-2025
<br />Belmont
<br />$3,518
<br />$6,039
<br />71.7%
<br />$360
<br />10.2%
<br />Brisbane
<br />$1,901
<br />$3,851
<br />102.6%
<br />$279
<br />14.7%
<br />Burlingame
<br />$5,735
<br />$11,435
<br />99.4%
<br />$814
<br />14.2%
<br />Daly City
<br />$13,464
<br />$28,579
<br />112.3%
<br />$2,159
<br />16.0%
<br />East Palo Alto
<br />$1,658
<br />$2,873
<br />73.3%
<br />$174
<br />10.5%
<br />Half Moon Bay
<br />$828
<br />$1,519
<br />83.5%
<br />$99
<br />11.9%
<br />Menlo Park
<br />$5,756
<br />$11,258
<br />95.6%
<br />$786
<br />13.7%
<br />Millbrae
<br />$3,690
<br />$6,828
<br />85.0%
<br />$448
<br />12.1%
<br />Pacifica
<br />$4,127
<br />$8,899
<br />115.6%
<br />$682
<br />16.5%
<br />Redwood City
<br />$21,246
<br />$39,955
<br />88.1%
<br />$2,673
<br />12.6%
<br />San Bruno
<br />$7,404
<br />$14,695
<br />98.5%
<br />$1,042
<br />14.1%
<br />San Carlos
<br />$3,280
<br />$5,407
<br />64.8%
<br />$304
<br />9.3%
<br />City of San Mateo
<br />$17,988
<br />$33,178
<br />84.4%
<br />$2,170
<br />12.1%
<br />South San Francisco
<br />$15,043
<br />$28,960
<br />92.5%
<br />$1,988
<br />13.2%
<br />Weighted
<br />Weighted
<br />Total
<br />Total
<br />Average
<br />Total
<br />Average
<br />$105,638 $203,477 92.6% $13,977 13.2%
<br />California Policy Center, Ca1PERSActuarial Report Data - Cities ($=M), <htto://califomianolicvicenter.or¢/wD-
<br />content/uDloads/2018/02/CatPERS-Actuarial-Report-Data-Cities-and-Counties-w-totals.xlsx>. The California Policy Center
<br />provides pension cost data for 14 of the 20 Cities. Data for Atherton, Colma, Foster City, Hillsborough, Portola Valley and
<br />Woodside was not provided.
<br />Bartel Associates, LLC90 projects even larger increases in pension costs than Ca1PERS. For
<br />example, as shown in Table Nos. 7.1, 7.2 and 7.3, Bartel projected in 2017 that pension costs for
<br />Redwood City, Menlo Park and Pacifica will more than double from FY 2016-2017 through FY
<br />2024-2025 (which is substantially greater than Ca1PERS' projections for those Cities shown in
<br />Table 6) and are projected to continue to increase substantially thereafter through FY 2027-
<br />2028.91
<br />91 The public pension actuarial consulting firm of Bartel Associates, LLC reports having served as consultants to
<br />over 400 public sector clients since 2012 including, within the San Mateo county alone, the Cities of Belmont,
<br />Burlingame, Daly City, East Palo Alto, Foster City, Menlo Park, Millbrae, Pacifica, Redwood City, San Bruno, San
<br />Carlos, San Mateo, South San Francisco, and the Town of Hillsborough. See, Bartel website, <httr)://www.bartel-
<br />associates.com/about-us/client-list>.
<br />" It should be noted that the Bartel Associates, LLC projections on which Table Nos. 7.1, 7.2 and 7.3 rely were set
<br />forth in reports dated February 17, 2017, May 2, 2017 and September 18, 2017, respectively. They were based on
<br />Ca1PERS numbers as of June 30, 2015. Last summer, CalPERS issued updated its numbers as of June 30, 2016 and
<br />it is expected to issued June 30, 2017 numbers again this summer. Were the Bartel projections to be re -run based on
<br />the most recent Ca1PERS data, they would be somewhat different from those reflected in Table Nos. 71., 7.2 and
<br />7.3. Source: Grand Jury interviews.
<br />2017-2018 San Mateo County Civil Grand Jury 21
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