Unfunded Liabilities

The Town of Colma offers benefit packages with certain guaranteed future payments to employees who retire from the Town. Unfunded liabilities arises when there are insufficient funds, right now, to pay these future benefits. To address the Town's unfunded liabilities, the City Council held two study sessions on September 26, 2018 and October 10, 2018 to discuss various funding strategies. Below is the funding strategy accepted by the City Council and a summary of the Town's pension liabilities based on the most recent CalPERS Valuation Report.