Attachment C - GF Public Safety Pension Costs.pdf

ATTACHMENT C 
 
The below chart illustrates the rise in General Fund (GF) costs for public safety pension. The 
forecast for fiscal years 2025-26 through 2028-29 is based on information from the Public 
Safety Personnel Retirement System (PSPRS) Actuary based on the valuation dated June 30, 
2023, and included in the most recent GF Multi-Year Forecast presented to City Council on 
February 27, 2024. Projected amounts account for changes made by the PSPRS Board to 
lower the payroll growth assumption from 2.5% to 2.0%, which causes upward pressure on 
employer contribution rates. Actual amounts may differ from the forecast. The forecast will be 
updated based on the June 30, 2024 valuation to be issued in December 2024 and will be 
included in the 2025-26 GF Budget Status and Multi-Year Forecast scheduled to be presented 
to City Council on February 25, 2025. 
 
 
 -
 50,000,000
 100,000,000
 150,000,000
 200,000,000
 250,000,000
2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29
Actuals Actuals Actuals Actuals Actuals Budget Forecast Forecast Forecast Forecast
GF Public Safety Pension Costs
GF Fire
GF Police