Arcadia adopts comprehensive pension management plan, saving $85 million. It addresses the City's $154 million in unfunded pension liabilities. It focuses on:
-use of reserves to prepay existing liabilities
-refinancing existing debt to lower interest rates to free up cash flow
-prepaying costs with surplus funds from voter-approved Measure A sales tax increase
-financing long-term capital improvements
-using pension obligation bonds to lower the overall costs of pensions
-negotiating for more employee cost-sharing.
See also Arcadia Weekly, p. 3, February 27, 2020