SLO County’s unfunded pension liability soaring, nearly $1 billion

By KAREN VELIE San Luis Obispo County’s unfunded pension liability is almost $1 billion, primarily because of huge pay raises and poorly performing investments. The SLO County Pension Trust Board o…

San Luis Obispo County’s unfunded pension liability is almost $1 billion, primarily because of huge pay raises and poorly performing investments.

For every dollar the county dolls out for payroll, more than 50 cents currently goes into the pension trust. In 2022, the pension deficit grew by $64 million, or 7%.The county pension fund generally receives money from employee contributions, employer contributions and returns on investments.

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