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 Culver City, All Plans, Including POB

PDF Excel Excel
Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2013 2014 2015
POB Liability NA NA NA
Market Liability $863,699,792 $895,255,066 $1,019,025,361
Actuarial Liability $524,334,040 $568,857,024 $596,569,466
Value of Assets $356,174,085 $410,888,399 $408,637,119
Market Pension Debt $507,525,707 $484,366,667 $610,388,242
Actuarial Pension Debt $168,159,955 $157,968,625 $187,932,347
Discount Rate for Market Liability 3.723% 3.750% 3.250%
  • Variable

    Market Liability


    • 2015

      $1,019,025,361

    • 2014

      $895,255,066

    • 2013

      $863,699,792

    • 2012

      $916,479,758

    • 2011

      $681,573,793

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Liability


    • 2015

      $596,569,466

    • 2014

      $568,857,024

    • 2013

      $524,334,040

    • 2012

      $494,459,571

    • 2011

      $470,363,460

    • 2010

      $443,514,257

    • 2009

      $422,887,924

    • 2008

      $383,344,164

  • Variable

    Value of Assets


    • 2015

      $408,637,119

    • 2014

      $410,888,399

    • 2013

      $356,174,085

    • 2012

      $325,648,786

    • 2011

      $335,231,998

    • 2010

      $282,448,529

    • 2009

      $253,289,231

    • 2008

      $341,960,728

  • Variable

    Market Pension Debt


    • 2015

      $610,388,242

    • 2014

      $484,366,667

    • 2013

      $507,525,707

    • 2012

      $590,830,972

    • 2011

      $346,341,795

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt


    • 2015

      $187,932,347

    • 2014

      $157,968,625

    • 2013

      $168,159,955

    • 2012

      $168,810,785

    • 2011

      $135,131,462

    • 2010

      $161,065,728

    • 2009

      $169,598,693

    • 2008

      $41,383,436

  • Variable

    Discount Rate for Market Liability


    • 2015

      3.250%

    • 2014

      3.750%

    • 2013

      3.723%

    • 2012

      2.980%

    • 2011

      4.820%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2013 2014 2015
Market Funded Ratio 41.2% 45.9% 40.1%
Actuarial Funded Ratio 67.9% 72.2% 68.5%
  • Variable

    Market Funded Ratio


    • 2015

      40.1%

    • 2014

      45.9%

    • 2013

      41.2%

    • 2012

      35.5%

    • 2011

      49.2%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Funded Ratio


    • 2015

      68.5%

    • 2014

      72.2%

    • 2013

      67.9%

    • 2012

      65.9%

    • 2011

      71.3%

    • 2010

      63.7%

    • 2009

      59.9%

    • 2008

      89.2%

*Recommended not to combine dollar and other categories.

Contributions

Variable 2013 2014 2015
Employer Total Contribution (%) 22.501% 23.412% 26.650%
Employer Normal Cost Contribution (%) 11.426% 11.691% 11.799%
Employer Other Contribution (%) 11.076% 11.721% 14.851%
Employer Total Pension Contribution ($) $10,514,195 $11,155,690 $13,404,863
Employer Normal Cost Contribution ($) $5,338,893 $5,570,653 $5,934,833
Employer Other Contribution ($) $5,175,302 $5,585,037 $7,470,030
Employee Contribution (%) 8.257% 8.245% 8.255%
Employee Contribution ($) $3,858,307 $3,928,630 $4,152,037
Payroll $46,726,726 $47,649,310 $50,300,081
  • Variable

    Employer Total Contribution (%)


    • 2015

      26.650%

    • 2014

      23.412%

    • 2013

      22.501%

    • 2012

      21.590%

    • 2011

      17.449%

    • 2010

      16.312%

    • 2009

      16.499%

    • 2008

      15.787%

  • Variable

    Employer Normal Cost Contribution (%)


    • 2015

      11.799%

    • 2014

      11.691%

    • 2013

      11.426%

    • 2012

      11.447%

    • 2011

      10.929%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Other Contribution (%)


    • 2015

      14.851%

    • 2014

      11.721%

    • 2013

      11.076%

    • 2012

      10.143%

    • 2011

      6.520%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Total Pension Contribution ($)


    • 2015

      $13,404,863

    • 2014

      $11,155,690

    • 2013

      $10,514,195

    • 2012

      $9,860,085

    • 2011

      $8,280,712

    • 2010

      $7,825,968

    • 2009

      $8,009,519

    • 2008

      $7,233,196

  • Variable

    Employer Normal Cost Contribution ($)


    • 2015

      $5,934,833

    • 2014

      $5,570,653

    • 2013

      $5,338,893

    • 2012

      $5,227,894

    • 2011

      $5,186,493

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Other Contribution ($)


    • 2015

      $7,470,030

    • 2014

      $5,585,037

    • 2013

      $5,175,302

    • 2012

      $4,632,191

    • 2011

      $3,094,219

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employee Contribution (%)


    • 2015

      8.255%

    • 2014

      8.245%

    • 2013

      8.257%

    • 2012

      8.247%

    • 2011

      8.233%

    • 2010

      8.359%

    • 2009

      8.363%

    • 2008

      8.366%

  • Variable

    Employee Contribution ($)


    • 2015

      $4,152,037

    • 2014

      $3,928,630

    • 2013

      $3,858,307

    • 2012

      $3,766,339

    • 2011

      $3,906,920

    • 2010

      $4,010,477

    • 2009

      $4,059,717

    • 2008

      $3,832,965

  • Variable

    Payroll


    • 2015

      $50,300,081

    • 2014

      $47,649,310

    • 2013

      $46,726,726

    • 2012

      $45,668,805

    • 2011

      $47,455,874

    • 2010

      $47,975,535

    • 2009

      $48,546,133

    • 2008

      $45,818,568

*Recommended not to combine dollar and other categories.

Benefit Levels

Variable 2013 2014 2015  
Benefit Formula 2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50 2% @ 55; 2.5% @ 55; 2% @ 60; 2% @ 62; 3% @ 55; 3% @ 50; 2.7% @ 57 2% @ 60; 2.7% @ 57 PEPRA Sfty  
Final Compensation Period 1; 1; 3 1; 3; 1; 3 3; 3  
COLA (%) 2; 2 NA NA  
Sick Leave Credit NA NA NA  
  • Variable

    Benefit Formula


    • 2015

      2% @ 60; 2.7% @ 57 PEPRA Sfty

    • 2014

      2% @ 55; 2.5% @ 55; 2% @ 60; 2% @ 62; 3% @ 55; 3% @ 50; 2.7% @ 57

    • 2013

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

    • 2012

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

    • 2011

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

    • 2010

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

    • 2009

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

    • 2008

      2% @ 55; 2.5% @ 55; 3% @ 55; 3% @ 50

  • Variable

    Final Compensation Period


    • 2015

      3; 3

    • 2014

      1; 3; 1; 3

    • 2013

      1; 1; 3

    • 2012

      1; 1; 3

    • 2011

      1; 1; 3

    • 2010

      1; 1; 3

    • 2009

      1; 1; 3

    • 2008

      3; 1

  • Variable

    COLA (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      2; 2

    • 2012

      2; 2

    • 2011

      2; 2

    • 2010

      2; 2

    • 2009

      0; 0

    • 2008

      2; 2

  • Variable

    Sick Leave Credit


    • 2015

      NA

    • 2014

      NA

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

Employee and Retiree Demographics

Variable 2013 2014 2015
Active Members 593 611 628
Retired Members 819 837 854
Retired/Active Ratio 1.38 1.37 1.36
Average Annual Pay, Active Members $78,798 $77,986 $80,095
Average Annual Benefits, Retired Members and Beneficiaries $32,296 $33,161 $34,163
Average Attained Age, Retired Members and Beneficiaries 67.4 67.7 68.0
  • Variable

    Active Members


    • 2015

      628

    • 2014

      611

    • 2013

      593

    • 2012

      594

    • 2011

      623

    • 2010

      645

    • 2009

      666

    • 2008

      654

  • Variable

    Retired Members


    • 2015

      854

    • 2014

      837

    • 2013

      819

    • 2012

      799

    • 2011

      780

    • 2010

      759

    • 2009

      713

    • 2008

      698

  • Variable

    Retired/Active Ratio


    • 2015

      1.36

    • 2014

      1.37

    • 2013

      1.38

    • 2012

      1.35

    • 2011

      1.25

    • 2010

      1.18

    • 2009

      1.07

    • 2008

      1.07

  • Variable

    Average Annual Pay, Active Members


    • 2015

      $80,095

    • 2014

      $77,986

    • 2013

      $78,798

    • 2012

      $76,883

    • 2011

      $76,173

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Average Annual Benefits, Retired Members and Beneficiaries


    • 2015

      $34,163

    • 2014

      $33,161

    • 2013

      $32,296

    • 2012

      $30,759

    • 2011

      $28,325

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Average Attained Age, Retired Members and Beneficiaries


    • 2015

      68.0

    • 2014

      67.7

    • 2013

      67.4

    • 2012

      67.0

    • 2011

      67.2

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Agency Expenditure & Revenue

Variable 2013 2014 2015
Total Expenditures $168,754,695 $143,297,047 $146,789,919
Operating Expenditures $157,958,518 $126,895,508 $135,101,702
Total Revenues $138,115,722 $148,862,988 $168,187,126
Tax Revenues $73,746,479 $85,155,388 $91,549,624
  • Variable

    Total Expenditures


    • 2015

      $146,789,919

    • 2014

      $143,297,047

    • 2013

      $168,754,695

    • 2012

      $155,607,510

    • 2011

      $131,163,371

    • 2010

      $126,454,158

    • 2009

      $126,267,452

    • 2008

      $130,174,719

  • Variable

    Operating Expenditures


    • 2015

      $135,101,702

    • 2014

      $126,895,508

    • 2013

      $157,958,518

    • 2012

      $127,198,015

    • 2011

      $121,171,624

    • 2010

      $116,909,768

    • 2009

      $117,015,042

    • 2008

      $120,552,050

  • Variable

    Total Revenues


    • 2015

      $168,187,126

    • 2014

      $148,862,988

    • 2013

      $138,115,722

    • 2012

      $148,716,951

    • 2011

      $263,595,171

    • 2010

      $123,127,035

    • 2009

      $130,791,605

    • 2008

      $130,478,096

  • Variable

    Tax Revenues


    • 2015

      $91,549,624

    • 2014

      $85,155,388

    • 2013

      $73,746,479

    • 2012

      $60,632,927

    • 2011

      $63,089,684

    • 2010

      $61,770,673

    • 2009

      $65,911,886

    • 2008

      $70,018,330

*Recommended not to combine dollar and other categories.

Agency Demographics

Variable 2013 2014 2015
Population 39,575 39,616 39,717
Households 8,387 17,024 17,052
  • Variable

    Population


    • 2015

      39,717

    • 2014

      39,616

    • 2013

      39,575

    • 2012

      39,448

    • 2011

      39,239

    • 2010

      39,015

    • 2009

      38,877

    • 2008

      38,792

  • Variable

    Households


    • 2015

      17,052

    • 2014

      17,024

    • 2013

      8,387

    • 2012

      16,772

    • 2011

      16,770

    • 2010

      16,773

    • 2009

      16,768

    • 2008

      16,754

*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2013 2014 2015
Market Pension Debt
Market Pension Debt/Household $60,513 $28,452 $35,796
Market Pension Debt/Capita $12,825 $12,227 $15,368
Market Pension Debt/Total Expenditures 3.01 3.38 4.16
Market Pension Debt/Operating Expenditures 3.21 3.82 4.52
Market Pension Debt/Payroll 10.86 10.17 12.13
Market Pension Debt/Employer Total Pension Contributions 48.27 43.42 45.53
Market Pension Debt/Total Revenues 3.67 3.25 3.63
Market Pension Debt/Tax Revenues 6.88 5.69 6.67
Actuarial Pension Debt
Actuarial Pension Debt/Household $20,050 $9,279 $11,021
Actuarial Pension Debt/Capita $4,249 $3,987 $4,732
Actuarial Pension Debt/Total Expenditures 1.00 1.10 1.28
Actuarial Pension Debt/Operating Expenditures 1.06 1.24 1.39
Actuarial Pension Debt/Payroll 3.60 3.32 3.74
Actuarial Pension Debt/Employer Total Pension Contribution 15.99 14.16 14.02
Actuarial Pension Debt/Total Revenues 1.22 1.06 1.12
Actuarial Pension Debt/Tax Revenues 2.28 1.86 2.05
Employer Total Pension Contribution
Employer Total Pension Contribution ($)/Total Expenditures 6.2% 7.8% 9.1%
Employer Total Pension Contribution ($)/Operating Expenditures 6.7% 8.8% 9.9%
Employer Total Pension Contribution ($)/Total Revenues 7.6% 7.5% 8.0%
Employer Total Pension Contribution ($)/Tax Revenues 14.3% 13.1% 14.6%
  • Variable

    Market Pension Debt/Household


    • 2015

      $35,796

    • 2014

      $28,452

    • 2013

      $60,513

    • 2012

      $35,228

    • 2011

      $20,653

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Capita


    • 2015

      $15,368

    • 2014

      $12,227

    • 2013

      $12,825

    • 2012

      $14,978

    • 2011

      $8,826

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Expenditures


    • 2015

      4.16

    • 2014

      3.38

    • 2013

      3.01

    • 2012

      3.80

    • 2011

      2.64

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Operating Expenditures


    • 2015

      4.52

    • 2014

      3.82

    • 2013

      3.21

    • 2012

      4.64

    • 2011

      2.86

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Payroll


    • 2015

      12.13

    • 2014

      10.17

    • 2013

      10.86

    • 2012

      12.94

    • 2011

      7.30

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Employer Total Pension Contributions


    • 2015

      45.53

    • 2014

      43.42

    • 2013

      48.27

    • 2012

      59.92

    • 2011

      41.83

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Revenues


    • 2015

      3.63

    • 2014

      3.25

    • 2013

      3.67

    • 2012

      3.97

    • 2011

      1.31

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Tax Revenues


    • 2015

      6.67

    • 2014

      5.69

    • 2013

      6.88

    • 2012

      9.74

    • 2011

      5.49

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt/Household


    • 2015

      $11,021

    • 2014

      $9,279

    • 2013

      $20,050

    • 2012

      $10,065

    • 2011

      $8,058

    • 2010

      $9,603

    • 2009

      $10,115

    • 2008

      $2,470

  • Variable

    Actuarial Pension Debt/Capita


    • 2015

      $4,732

    • 2014

      $3,987

    • 2013

      $4,249

    • 2012

      $4,279

    • 2011

      $3,444

    • 2010

      $4,128

    • 2009

      $4,362

    • 2008

      $1,067

  • Variable

    Actuarial Pension Debt/Total Expenditures


    • 2015

      1.28

    • 2014

      1.10

    • 2013

      1.00

    • 2012

      1.08

    • 2011

      1.03

    • 2010

      1.27

    • 2009

      1.34

    • 2008

      0.32

  • Variable

    Actuarial Pension Debt/Operating Expenditures


    • 2015

      1.39

    • 2014

      1.24

    • 2013

      1.06

    • 2012

      1.33

    • 2011

      1.12

    • 2010

      1.38

    • 2009

      1.45

    • 2008

      0.34

  • Variable

    Actuarial Pension Debt/Payroll


    • 2015

      3.74

    • 2014

      3.32

    • 2013

      3.60

    • 2012

      3.70

    • 2011

      2.85

    • 2010

      3.36

    • 2009

      3.49

    • 2008

      0.90

  • Variable

    Actuarial Pension Debt/Employer Total Pension Contribution


    • 2015

      14.02

    • 2014

      14.16

    • 2013

      15.99

    • 2012

      17.12

    • 2011

      16.32

    • 2010

      20.58

    • 2009

      21.17

    • 2008

      5.72

  • Variable

    Actuarial Pension Debt/Total Revenues


    • 2015

      1.12

    • 2014

      1.06

    • 2013

      1.22

    • 2012

      1.14

    • 2011

      0.51

    • 2010

      1.31

    • 2009

      1.30

    • 2008

      0.32

  • Variable

    Actuarial Pension Debt/Tax Revenues


    • 2015

      2.05

    • 2014

      1.86

    • 2013

      2.28

    • 2012

      2.78

    • 2011

      2.14

    • 2010

      2.61

    • 2009

      2.57

    • 2008

      0.59

  • Variable

    Employer Total Pension Contribution ($)/Total Expenditures


    • 2015

      9.1%

    • 2014

      7.8%

    • 2013

      6.2%

    • 2012

      6.3%

    • 2011

      6.3%

    • 2010

      6.2%

    • 2009

      6.3%

    • 2008

      5.6%

  • Variable

    Employer Total Pension Contribution ($)/Operating Expenditures


    • 2015

      9.9%

    • 2014

      8.8%

    • 2013

      6.7%

    • 2012

      7.8%

    • 2011

      6.8%

    • 2010

      6.7%

    • 2009

      6.8%

    • 2008

      6.0%

  • Variable

    Employer Total Pension Contribution ($)/Total Revenues


    • 2015

      8.0%

    • 2014

      7.5%

    • 2013

      7.6%

    • 2012

      6.6%

    • 2011

      3.1%

    • 2010

      6.4%

    • 2009

      6.1%

    • 2008

      5.5%

  • Variable

    Employer Total Pension Contribution ($)/Tax Revenues


    • 2015

      14.6%

    • 2014

      13.1%

    • 2013

      14.3%

    • 2012

      16.3%

    • 2011

      13.1%

    • 2010

      12.7%

    • 2009

      12.2%

    • 2008

      10.3%

*Recommended not to combine dollar and other categories.

Pension Tracker

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Stanford, CA  94305-6050
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