Marin County Government Basic Facts about Pensions

In 2010, Marin County’s General Fund was expected to have budget shortfalls for the next several years. The main reasons were increased pension and health care costs plus a significant decline in property tax collections. The cost for public employee pensions is an issue at all levels of government. Across most local governments in California, increased pension expenditures related to these factors:

• Significant investment losses by pension funds, especially in 2008 and 2009
• Higher retroactive benefits adopted when investment returns were higher
• Retirees living longer today than when pension plans were established

In Marin County and elsewhere, the cost to pay pensions was increasing at a time when difficult choices were being made about what services to keep or cut. Per the Marin County Employees’ Retirement Association (MCERA) actuarial valuation as of 6/30/2014, employer contributions began to increase in 2009 but have leveled off in recent years.

This document provides basic facts about pensions for Marin County employees.