City Pension Liabilities and Section 115 Trust
Summary
Burlingame owes about $93 million in unfunded CalPERS pension debt across its two plans, and the police plan is only 65% funded. The actuary recommended keeping the $26.6 million reserve trust intact rather than using it to lower near-term contributions — a decision that will come back at budget time.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed Mar 16, 2026.
Impact analysis
About $93 million in unfunded pension debt; safety contributions run near 100% of payroll, squeezing money available for streets, staffing, and raises.
Retirees and current employees whose pensions the city is contractually obligated to pay.
Residents indirectly — pension costs crowd out funding for infrastructure, services, and compensation.
Mentions & discussions (1)
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