Can the CalPERS retirement system be canceled?

California cities have contractual obligations with CalPERS. The City of Scotts Valley would have to “buy out” its contractual obligation at a cost of tens of millions of dollars, which could feasibly bankrupt the City.

Show All Answers

1. Where does the City get its money?
2. What is the City's budget?
3. How does Scotts Valley's budget compare to others?
4. How many staff work for the city?
5. How much are our police paid? Is it competitive?
6. How much are City staff paid?
7. What is CalPERS?
8. Can the CalPERS retirement system be canceled?