Pension / Compensation

Most of the Agency’s net pension liability relates to pensions provided to employees hired before January 1, 2013 under the 3% at 60 plan. “Classic” employees hired after this date are enrolled in the 2% at 55 plan, while all others are enrolled in the 2% at 62 plan. Monterey One Water’s pension obligations and employee compensation are described in the links below. Information is based on the most recent risk analyses from CalPERS. CalPERS targeted annual rate of return is 6.8% and its most recent rate of return for 2021 was 9.7% for 10 years and 7.3% for 20 years.

Pension and Compensation Resources