San Luis Obispo City officials plan to make a 4.2 million dollar payment to CalPERS in an effort to pay down the city’s pension obligation. The city council also approved a 1.4 million dollar pension trust fund in an effort to stave off future changes to their pension costs. Increasing pension costs have been blamed, in part, for last year’s 9 million dollar shortfall. A recent review of the San Luis Obispo City budget shows the city is mostly on track with its three-year Fiscal Health Response Plan.
