NOVATO PENSION REPORT - 2012
In 2012, the City contracted with John Bartell, LLC to provided an updated analysis of the City's pension plans. An executive summary and the report are included in the table below

NOVATO CalPERS ACTUARIAL REPORTS
The City has seperate pension plans for miscellaneous (i.e. non-safety) and safety employees.  The miscellaneous plan is a stand-alone plan for Novato employees only.  In contrast, the public safety plan is "pooled." Risk pooling consists of pooling assets and liabilities across employers to produce large risk sharing pools that dramatically reduce or eliminate the large fluctuations in the employer's contribution rate caused by unexpected demographic events.  The benefits paid are distributed from this same pool.

Each year, CalPERS produces an actuarial valuation for Novato's pension plans.  These reports are released in October and are retrospective in that they provide a valuation for the previous year. For instance, the most recent report released in October of 2011 provided an actuarial valuation for Novato's plans as of June 30, 2010.

The valuation is a financial examination to determine whether contributions and investment earnings are being accumulated at the rate sufficient to provide the funds to pay promised pensions when they are due. The valuation report provides the City with our retirement plan's funded status, contribution rate and annual required contribution to maintain sound funding over the long term if all actuarial assumptions are met.

The City's reports dating back to 2008 are included in the table below.

PUBLIC PENSION REPORTS, PLANS AND ADDITIONAL INFORMATION
The table below contains reports, plans and additional related to public pensions.

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