California
Pension Tracker

Joe Nation, Ph.D.

Project Director
Stanford Institute for
Economic Policy Research

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2015, the most recent available.

City of Palo Alto, All CalPERS Plans

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Year:
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable CalPERS Plans Miscellaneous Safety Plan
POB Liability NA NA NA
Market Liability $1,791,242,266 $1,144,034,631 $647,207,635
Actuarial Liability $1,074,633,744 $696,699,220 $377,934,524
Value of Assets $736,200,690 $477,031,099 $259,169,591
Market Pension Debt $1,055,041,576 $667,003,532 $388,038,044
Actuarial Pension Debt $338,433,054 $219,668,121 $118,764,933
Discount Rate for Market Liability 3.250% 3.250% 3.250%
  • Variable

    POB Liability

    • CalPERS Plans

      NA

    • Miscellaneous

      NA

    • Safety Plan

      NA


  • Variable

    Market Liability

    • CalPERS Plans

      $1,791,242,266

    • Miscellaneous

      $1,144,034,631

    • Safety Plan

      $647,207,635


  • Variable

    Actuarial Liability

    • CalPERS Plans

      $1,074,633,744

    • Miscellaneous

      $696,699,220

    • Safety Plan

      $377,934,524


  • Variable

    Value of Assets

    • CalPERS Plans

      $736,200,690

    • Miscellaneous

      $477,031,099

    • Safety Plan

      $259,169,591


  • Variable

    Market Pension Debt

    • CalPERS Plans

      $1,055,041,576

    • Miscellaneous

      $667,003,532

    • Safety Plan

      $388,038,044


  • Variable

    Actuarial Pension Debt

    • CalPERS Plans

      $338,433,054

    • Miscellaneous

      $219,668,121

    • Safety Plan

      $118,764,933


  • Variable

    Discount Rate for Market Liability

    • CalPERS Plans

      3.250%

    • Miscellaneous

      3.250%

    • Safety Plan

      3.250%


*Recommended not to combine dollar and other categories.

Funded Ratios

Variable CalPERS Plans Miscellaneous Safety Plan
Market Funded Ratio 41.1% 41.7% 40.0%
Actuarial Funded Ratio 68.5% 68.5% 68.6%
  • Variable

    Market Funded Ratio

    • CalPERS Plans

      41.1%

    • Miscellaneous

      41.7%

    • Safety Plan

      40.0%


  • Variable

    Actuarial Funded Ratio

    • CalPERS Plans

      68.5%

    • Miscellaneous

      68.5%

    • Safety Plan

      68.6%


*Recommended not to combine dollar and other categories.

Contributions

Variable CalPERS Plans Miscellaneous Safety Plan
Employer Total Contribution (%) 29.184% 26.122% 39.528%
Employer Normal Cost Contribution (%) 12.245% 10.283% 18.874%
Employer Other Contribution (%) 16.939% 15.839% 20.654%
Employer Total Pension Contribution ($) $27,071,286 $18,696,775 $8,374,511
Employer Normal Cost Contribution ($) $11,358,737 $7,360,039 $3,998,698
Employer Other Contribution ($) $15,712,549 $11,336,736 $4,375,813
Employee Contribution (%) 8.127% 7.868% 9.000%
Employee Contribution ($) $7,538,272 $5,631,507 $1,906,765
Payroll $92,761,098 $71,574,823 $21,186,275
  • Variable

    Employer Total Contribution (%)

    • CalPERS Plans

      29.184%

    • Miscellaneous

      26.122%

    • Safety Plan

      39.528%


  • Variable

    Employer Normal Cost Contribution (%)

    • CalPERS Plans

      12.245%

    • Miscellaneous

      10.283%

    • Safety Plan

      18.874%


  • Variable

    Employer Other Contribution (%)

    • CalPERS Plans

      16.939%

    • Miscellaneous

      15.839%

    • Safety Plan

      20.654%


  • Variable

    Employer Total Pension Contribution ($)

    • CalPERS Plans

      $27,071,286

    • Miscellaneous

      $18,696,775

    • Safety Plan

      $8,374,511


  • Variable

    Employer Normal Cost Contribution ($)

    • CalPERS Plans

      $11,358,737

    • Miscellaneous

      $7,360,039

    • Safety Plan

      $3,998,698


  • Variable

    Employer Other Contribution ($)

    • CalPERS Plans

      $15,712,549

    • Miscellaneous

      $11,336,736

    • Safety Plan

      $4,375,813


  • Variable

    Employee Contribution (%)

    • CalPERS Plans

      8.127%

    • Miscellaneous

      7.868%

    • Safety Plan

      9.000%


  • Variable

    Employee Contribution ($)

    • CalPERS Plans

      $7,538,272

    • Miscellaneous

      $5,631,507

    • Safety Plan

      $1,906,765


  • Variable

    Payroll

    • CalPERS Plans

      $92,761,098

    • Miscellaneous

      $71,574,823

    • Safety Plan

      $21,186,275


*Recommended not to combine dollar and other categories.

Benefit Levels

Variable CalPERS Plans Miscellaneous Safety Plan  
Benefit Formula 2% @ 62 PEPRA Misc; 2.7% @ 57 PEPRA Sfty 2% @ 62 PEPRA Misc 2.7% @ 57 PEPRA Sfty  
Final Compensation Period 3; 3 3 3  
COLA (%) NA NA NA  
Sick Leave Credit NA NA NA  
  • Variable

    Benefit Formula

    • CalPERS Plans

      2% @ 62 PEPRA Misc; 2.7% @ 57 PEPRA Sfty

    • Miscellaneous

      2% @ 62 PEPRA Misc

    • Safety Plan

      2.7% @ 57 PEPRA Sfty


  • Variable

    Final Compensation Period

    • CalPERS Plans

      3; 3

    • Miscellaneous

      3

    • Safety Plan

      3


  • Variable

    COLA (%)

    • CalPERS Plans

      NA

    • Miscellaneous

      NA

    • Safety Plan

      NA


  • Variable

    Sick Leave Credit

    • CalPERS Plans

      NA

    • Miscellaneous

      NA

    • Safety Plan

      NA


Employee and Retiree Demographics

Variable CalPERS Plans Miscellaneous Safety Plan
Active Members 975 796 179
Retired Members 1,441 1,027 414
Retired/Active Ratio 1.48 1.29 2.31
Average Annual Pay, Active Members $95,139 $89,918 $118,359
Average Annual Benefits, Retired Members and Beneficiaries $38,109 $32,564 $51,863
Average Attained Age, Retired Members and Beneficiaries 68.9 69.3 67.8
  • Variable

    Active Members

    • CalPERS Plans

      975

    • Miscellaneous

      796

    • Safety Plan

      179


  • Variable

    Retired Members

    • CalPERS Plans

      1,441

    • Miscellaneous

      1,027

    • Safety Plan

      414


  • Variable

    Retired/Active Ratio

    • CalPERS Plans

      1.48

    • Miscellaneous

      1.29

    • Safety Plan

      2.31


  • Variable

    Average Annual Pay, Active Members

    • CalPERS Plans

      $95,139

    • Miscellaneous

      $89,918

    • Safety Plan

      $118,359


  • Variable

    Average Annual Benefits, Retired Members and Beneficiaries

    • CalPERS Plans

      $38,109

    • Miscellaneous

      $32,564

    • Safety Plan

      $51,863


  • Variable

    Average Attained Age, Retired Members and Beneficiaries

    • CalPERS Plans

      68.9

    • Miscellaneous

      69.3

    • Safety Plan

      67.8


*Recommended not to combine dollar and other categories.

Agency Expenditure & Revenue

Variable CalPERS Plans
Total Expenditures $417,981,079
Operating Expenditures $378,610,434
Total Revenues $469,159,452
Tax Revenues $107,688,086
  • Variable

    Total Expenditures

    • CalPERS Plans

      $417,981,079

    • Miscellaneous

      $417,981,079

    • Safety Plan

      $417,981,079


  • Variable

    Operating Expenditures

    • CalPERS Plans

      $378,610,434

    • Miscellaneous

      $378,610,434

    • Safety Plan

      $378,610,434


  • Variable

    Total Revenues

    • CalPERS Plans

      $469,159,452

    • Miscellaneous

      $469,159,452

    • Safety Plan

      $469,159,452


  • Variable

    Tax Revenues

    • CalPERS Plans

      $107,688,086

    • Miscellaneous

      $107,688,086

    • Safety Plan

      $107,688,086


*Recommended not to combine dollar and other categories.

Agency Demographics

Variable CalPERS Plans
Population 66,853
Households 26,903
  • Variable

    Population

    • CalPERS Plans

      66,853

    • Miscellaneous

      66,853

    • Safety Plan

      66,853


  • Variable

    Households

    • CalPERS Plans

      26,903

    • Miscellaneous

      26,903

    • Safety Plan

      26,903


*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable CalPERS Plans Miscellaneous Safety Plan
Market Pension Debt/Household $39,217 $24,793 $14,424
Market Pension Debt/Capita $15,782 $9,977 $5,804
Market Pension Debt/Total Expenditures 2.52 1.60 0.93
Market Pension Debt/Operating Expenditures 2.79 1.76 1.02
Market Pension Debt/Payroll 11.37 9.32 18.32
Market Pension Debt/Employer Total Pension Contributions 38.97 35.67 46.34
Market Pension Debt/Total Revenues 2.25 1.42 0.83
Market Pension Debt/Tax Revenues 9.80 6.19 3.60
Actuarial Pension Debt/Household $12,580 $8,165 $4,415
Actuarial Pension Debt/Capita $5,062 $3,286 $1,777
Actuarial Pension Debt/Total Expenditures 0.81 0.53 0.28
Actuarial Pension Debt/Operating Expenditures 0.89 0.58 0.31
Actuarial Pension Debt/Payroll 3.65 3.07 5.61
Actuarial Pension Debt/Employer Total Pension Contribution 12.50 11.75 14.18
Actuarial Pension Debt/Total Revenues 0.72 0.47 0.25
Actuarial Pension Debt/Tax Revenues 3.14 2.04 1.10
Employer Total Pension Contribution
Employer Total Pension Contribution ($)/Total Expenditures 6.5% 4.5% 2.0%
Employer Total Pension Contribution ($)/Operating Expenditures 7.2% 4.9% 2.2%
Employer Total Pension Contribution ($)/Total Revenues 5.8% 4.0% 1.8%
Employer Total Pension Contribution ($)/Tax Revenues 25.1% 17.4% 7.8%
  • Variable

    Market Pension Debt/Household

    • CalPERS Plans

      $39,217

    • Miscellaneous

      $24,793

    • Safety Plan

      $14,424


  • Variable

    Market Pension Debt/Capita

    • CalPERS Plans

      $15,782

    • Miscellaneous

      $9,977

    • Safety Plan

      $5,804


  • Variable

    Market Pension Debt/Total Expenditures

    • CalPERS Plans

      2.52

    • Miscellaneous

      1.60

    • Safety Plan

      0.93


  • Variable

    Market Pension Debt/Operating Expenditures

    • CalPERS Plans

      2.79

    • Miscellaneous

      1.76

    • Safety Plan

      1.02


  • Variable

    Market Pension Debt/Payroll

    • CalPERS Plans

      11.37

    • Miscellaneous

      9.32

    • Safety Plan

      18.32


  • Variable

    Market Pension Debt/Employer Total Pension Contributions

    • CalPERS Plans

      38.97

    • Miscellaneous

      35.67

    • Safety Plan

      46.34


  • Variable

    Market Pension Debt/Total Revenues

    • CalPERS Plans

      2.25

    • Miscellaneous

      1.42

    • Safety Plan

      0.83


  • Variable

    Market Pension Debt/Tax Revenues

    • CalPERS Plans

      9.80

    • Miscellaneous

      6.19

    • Safety Plan

      3.60


  • Variable

    Actuarial Pension Debt/Household

    • CalPERS Plans

      $12,580

    • Miscellaneous

      $8,165

    • Safety Plan

      $4,415


  • Variable

    Actuarial Pension Debt/Capita

    • CalPERS Plans

      $5,062

    • Miscellaneous

      $3,286

    • Safety Plan

      $1,777


  • Variable

    Actuarial Pension Debt/Total Expenditures

    • CalPERS Plans

      0.81

    • Miscellaneous

      0.53

    • Safety Plan

      0.28


  • Variable

    Actuarial Pension Debt/Operating Expenditures

    • CalPERS Plans

      0.89

    • Miscellaneous

      0.58

    • Safety Plan

      0.31


  • Variable

    Actuarial Pension Debt/Payroll

    • CalPERS Plans

      3.65

    • Miscellaneous

      3.07

    • Safety Plan

      5.61


  • Variable

    Actuarial Pension Debt/Employer Total Pension Contribution

    • CalPERS Plans

      12.50

    • Miscellaneous

      11.75

    • Safety Plan

      14.18


  • Variable

    Actuarial Pension Debt/Total Revenues

    • CalPERS Plans

      0.72

    • Miscellaneous

      0.47

    • Safety Plan

      0.25


  • Variable

    Actuarial Pension Debt/Tax Revenues

    • CalPERS Plans

      3.14

    • Miscellaneous

      2.04

    • Safety Plan

      1.10


  • Variable

    Employer Total Pension Contribution ($)/Total Expenditures

    • CalPERS Plans

      6.5%

    • Miscellaneous

      4.5%

    • Safety Plan

      2.0%


  • Variable

    Employer Total Pension Contribution ($)/Operating Expenditures

    • CalPERS Plans

      7.2%

    • Miscellaneous

      4.9%

    • Safety Plan

      2.2%


  • Variable

    Employer Total Pension Contribution ($)/Total Revenues

    • CalPERS Plans

      5.8%

    • Miscellaneous

      4.0%

    • Safety Plan

      1.8%


  • Variable

    Employer Total Pension Contribution ($)/Tax Revenues

    • CalPERS Plans

      25.1%

    • Miscellaneous

      17.4%

    • Safety Plan

      7.8%


*Recommended not to combine dollar and other categories.

Pension Tracker

Stanford Institute for Economic Policy Research
366 Galvez Street
Stanford, CA  94305-6050
admin@pensiontracker.org