City staff would lead you to believe that the unfunded liability fluctuates. However, over the last 5+ years, the amount has only increased. The latest CalPERS actuarial report reveals that El Cerrito’s pension liability (UAL – unfunded accrued liability) has risen to $89,246,893, up from $84,956,834. This poor financial planning will cost El Cerrito taxpayers $7,763,945 for FY 2026, a significant jump from just under $7 million paid in FY 2025.
CalPERS projects that the FY 2031 payment will surpass $10,212,000.
To address this $89 million deficit, the city has only set aside a little over $1 million in a Section 115 Trust.
Despite these alarming figures, insider candidates Courtney Helion, Lisa Motoyama, and Rebecca Saltzman still maintain that El Cerrito is on solid financial ground.
El Cerrito Committee for Responsible Government (ECCRG) 