Pension Funding Strategies

Strongly opposed a 115 trust, saying the restriction is easily circumvented and returns won't beat CalPERS — the only flexibility is for a future council to spend the money elsewhere.

Questioned why the trust is even under discussion given there's no extra money, noted Saratoga is well-funded and protected within CalPERS, and said extra payments should just go straight to CalPERS.

Compared the 115 trust to saving in low-yield CDs while carrying a 6.8% credit card balance — it doesn't pencil out; if there's extra money, send it to CalPERS.