El Cerrito’s CalPERS Unfunded Accrued Liability (UAL)
El Cerrito’s UAL is crowding out services
El Cerrito has an $89 million Unfunded Accrued Liability (UAL). The UAL payments crowd out needed services such as a senior center and many infrastructure needs such as replacing a fire truck and fixing the swimming pool.
The city has five plans. The most important plan, by far, is the Safety Plan that covers uniformed firefighters and police officers.
As you can see the UAL has grown rapidly.
Payments keep on increasing
Payments keep on increasing because the city only makes minimum payments and the CalPERS assumptions have historically been much too optimistic.
Predictions are too optimistic
In FY 2024, the prediction for FY 2026 underestimated the true payment by more than $1 million!
