MWSD proposed pension plan: Meeting Aug 5 & 7

mwsd
pensions
water
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(Barry Parr) #1

Discussion of the MWSD’s proposed pension plan.

Related link:

http://coastsider.com/site/news/letter_important_water_board_meeting_wednesday_and_thursday_aug_5_6/6286


(kathryn slater-carter) #2

Unfortunately I am unable to read past: "Do you think the County ". I cannot respond to that question.
I do think the majority of the MWSD board needed to do a lot more investigation before voting to adopt a Defined Benefit Plan as the actuarial work for the plan is fatally flawed, the cost projects were only for the first year, the expense fees were not fully documented prior to the vote, and the long range unfunded liability strict for just the first seven employees for the was not calculated.
Thanks to the work of several financially experienced citizens the board is looking at a less disastrous plan.
If there is interest i will post numbers and more details. Let me know.

Kathryn