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Employee Pension Information

The City of Santa Barbara offers pensions through the California Public Employees Retirement System (CalPERS). http://www.calpers.ca.gov/

The tables below show the amount that the City and employees contribute to the CalPERS pension plans as a percent of employees' reportable salaries.

Miscellaneous (Non-Safety) Plan Contribution Rates
Fiscal Year 2016-2017 Classic Employees New (PEPRA) Employees (2)
Formula (1) 2.7% at age 55 2% at age 62
Current Normal Cost % payroll 10.744% 10.744%
City Paid UAL asa % of Payroll (3) 17.156% 17.156%
Employee Paid City Contributions (4) -1.526% N/A
Total City CalPERS Contribution 26.374% 27.900%
Employees' CalPERS Contribution 9.526% 6.750%
Miscellaneous (Non-Safety) Plan Contribution Rates
Fiscal Year 2017-2018 Classic Employees New (PEPRA) Employees (2)
Formula (1) 2.7% at age 55 2% at age 62
Current Normal Cost % payroll 10.358% 10.358%
City Paid UAL asa % of Payroll (3) 18.473% 18.473%
Employee Paid City Contributions (4) -1.811% N/A
Total City CalPERS Contribution 27.02% 28.831%
Employees' CalPERS Contribution 9.811% 6.750%

Police Safety Plan Contribution Rates
Fiscal Year 2016-2017 Classic Employees New (PEPRA) Employees (2)
Formula (1) 3% at age 50 2.7% at age 55
Current Normal Cost % payroll 20.999% 20.999%
City Paid UAL asa % of Payroll (3) 19.912% 19.912%
Total City CalPERS Contribution 40.911% 40.911%
Employees' CalPERS Contribution 9% 12%
Police Safety Plan Contribution Rates
Fiscal Year 2017-2018 Classic Employees New (PEPRA) Employees (2)
Formula (1) 3% at age 50 2.7% at age 55
Current Normal Cost % payroll 20.728% 20.728%
City Paid UAL asa % of Payroll (3) 25.45% 25.45%
Total City CalPERS Contribution 46.178% 46.178%
Employees' CalPERS Contribution 9% 12%

Fire Safety Plan Contribution Rates
Fiscal Year 2016-2017 Classic Employees New (PEPRA Employees (2)
Formula (1) 3% at age 50 2.7% at age 55
Current Normal Cost % payroll (5) 20.215% 12.821%
City Paid UAL asa % of Payroll (3) 26.837% 0.242%
Total City CalPERS Contribution 47.052% 13.063%
Combined City Rate (6) 47.052% 47.052%
Employees' CalPERS Contribution 9% 12.25%
Fire Safety Plan Contribution Rates
Fiscal Year 2017-2018 Classic Employees New (PEPRA) Employees (2)
Formula (1) 3% at age 50 2.7% at age 55
Current Normal Cost % payroll (5) 20.741% 12.729%
City Paid UAL as a % of Payroll (3) 32.217% 0.742%
Total City CalPERS Contribution 52.958% 13.471%
Combined City Rate (6) 52.307% 52.307%
Employees' CalPERS Contribution 9% 12.25%

NOTES

(1) Formula shows the percent of final salary at normal retirement age for each year of City service, payable forthe life of the retiree.

(2) New employees are those employees hired after 1/1/2013 who are not grandfathered in the pension systemas "Classic" employees under CalPERS pursuant to the Public Employees' Pension Reform Act (PEPRA).

(3) UAL = Unfunded liability. An unfunded liability is a disparity between the estimated amount of a pension plan's obligations and the current value of its assets.

(4) Classic Miscellaneous Employees agreed to pay a portion of the City's CalPERS contribution in order to helppay for a 2004 pension benefit enhancement.

(5) Fire employees are in two separate CalPERS "pooled" plans beginning in Fiscal Year 2015, one for Classic and one for New (PEPRA) employees.

(6) Combined rate for Fire consolidates total normal cost and total payments on UAL as a function of total payroll across the two pooled plans.

CalPERS Plan Actuarial Valuations

Interested parties may view the current and previous year CalPERS plan actuarial valuations for the City of Santa Barbara (Employer Number 6782000650) through the following link. https://www.calpers.ca.gov/page/employers/actuarial-services/employer-contributions/public-agency-actuarial-valuation-reports

Valuations are numbered 2 years prior to the beginning of the Fiscal Year in which employer rates are established. So, for example, the "Miscellaneous 2015" valuation was used to set the City's July 2017 through June 2018 ("Fiscal Year 2018") required Miscellaneous contribution rates.

Last Updated: Jun 1, 2017