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.
Pension and Compensation Resources