Quiz: How much do you know about Chico’s pension deficit?

18 Oct

Here’s Part 1 of the quiz I was promising. These questions are all from the first 10 or 15 minutes of the video presentation posted here:

https://chicotaxpayers.com/2020/10/09/heres-the-video-from-that-sept-23-finance-comm-meeting-ever-wonder-what-people-are-saying-about-your-money-behind-your-back/

If you feel like it, send this video to your district representative/candidate, see how many of these questions he/she can answer.

  1. What is the city’s current Unfunded Actuarial Liability (aka “pension deficit”), not including interest?
  2. How much has that figure grown in the last 5 years?
  3. What are the two types of payments the city currently makes to CalPERS?
  4. How much are those payments projected to increase over the next 5 years?
  5. What is CalPERS investment return target, and what have they been averaging over the last 20 years?

Well, that ought to give you something to chew on, I’ll get more questions when I have a minute.

3 Responses to “Quiz: How much do you know about Chico’s pension deficit?”

  1. Jim October 18, 2020 at 7:01 am #

    I doubt that many of the council candidates could answer those questions with the exception of Stone.

    Another question I’d ask is “What percentage of the city budget goes toward CalPERS ?

    • Juanita Sumner October 18, 2020 at 7:07 am #

      Good question. That figure has been in the conversation but I can’t remember.

      I think Dave knows. It’s a gobstopper.

      Hmm, I think good questions should get as many points as good answers. 10 points for Jim!

      • Dave October 18, 2020 at 10:54 am #

        That’s a good question. I think I had that number a few years ago but whatever it was is hopelessly out of date.

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