In addition to school districts, cities and counties are also facing major increases in their CALPERS contributions. At this week’s Grass Valley City Council meeting, Acting Finance Director Andy Heath said their contribution is expected to rise another million-and-a-half dollars over the next 6 fiscal years, starting with 2017-2018….
But Heath says the city has time to plan for it and the City Council has also set aside a million-dollar pension reserve, to help with some of the cost fluctuations. But he hasn’t ruled out staff and employees helping out…
But Heath says reductions in hours or layoffs for employees, along with sevice cuts, are currently considered a last resort. He also says some revenue growth can help offset the increases. He also had to deal with the issue as the longtime Finance Director for Auburn up until last year.
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