Lake Forest is doing what many cities aspire to do — it’s paying off its unfunded pension liabilities. The move is estimated to save taxpayers $3.4 million in interest costs over 30 years.
But Lake Forest is lucky: The city possesses that rare combination of being relatively new, being relatively small and being a relatively wealthy city. That means its pension liabilities will remain small in comparison to larger and older cities. But that doesn’t mean that these obligations can’t grow beyond a manageable level — and fast.
Sunday, September 24, 2017
Orange County city chooses pension responsibility over trophy projects
Orange County Register: