California News

Riverside County Seeks Strategy To Reduce $3.5B Pension Debt

NBC Los Angeles-

The Riverside County Board of Supervisors directed the Executive Office Tuesday to develop potential strategies for reducing Riverside County’s pension debt, including possibly moving some employees of loosely affiliated county agencies onto other retirement plans.

Supervisors Kevin Jeffries and Chuck Washington brought forward the proposal for a formal plan to which the Board of Supervisors can look for answers to swelling pension liabilities — and their drain on the general fund.

“There may be short-term solutions to reduce direct costs to the county,” they wrote in a statement posted to the board’s policy agenda.

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