California
Pension Tracker

Joe Nation, Ph.D.

Project Director
Stanford Institute for
Economic Policy Research

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2015, the most recent available.

City of Sierra Madre, All Plans, Including POB

PDF Excel Excel
Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2013 2014 2015
POB Liability NA NA NA
Market Liability $59,944,737 $63,171,018 $71,088,560
Actuarial Liability $36,907,048 $39,945,610 $41,338,106
Value of Assets $27,241,571 $30,952,674 $30,659,660
Market Pension Debt $32,703,166 $32,218,344 $40,428,900
Actuarial Pension Debt $9,665,477 $8,992,936 $10,678,446
Discount Rate for Market Liability 3.723% 3.750% 3.250%
  • Variable

    Market Liability


    • 2015

      $71,088,560

    • 2014

      $63,171,018

    • 2013

      $59,944,737

    • 2012

      $64,717,194

    • 2011

      $47,132,750

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Liability


    • 2015

      $41,338,106

    • 2014

      $39,945,610

    • 2013

      $36,907,048

    • 2012

      $34,910,331

    • 2011

      $32,890,297

    • 2010

      $30,542,089

    • 2009

      $29,590,610

    • 2008

      $26,181,754

  • Variable

    Value of Assets


    • 2015

      $30,659,660

    • 2014

      $30,952,674

    • 2013

      $27,241,571

    • 2012

      $24,097,213

    • 2011

      $23,902,203

    • 2010

      $21,499,507

    • 2009

      $19,398,294

    • 2008

      $25,286,442

  • Variable

    Market Pension Debt


    • 2015

      $40,428,900

    • 2014

      $32,218,344

    • 2013

      $32,703,166

    • 2012

      $40,619,981

    • 2011

      $23,230,547

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt


    • 2015

      $10,678,446

    • 2014

      $8,992,936

    • 2013

      $9,665,477

    • 2012

      $10,813,118

    • 2011

      $8,988,094

    • 2010

      $9,042,582

    • 2009

      $10,192,316

    • 2008

      $895,312

  • Variable

    Discount Rate for Market Liability


    • 2015

      3.250%

    • 2014

      3.750%

    • 2013

      3.723%

    • 2012

      2.980%

    • 2011

      4.820%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2013 2014 2015
Market Funded Ratio 45.4% 49.0% 43.1%
Actuarial Funded Ratio 73.8% 77.5% 74.2%
  • Variable

    Market Funded Ratio


    • 2015

      43.1%

    • 2014

      49.0%

    • 2013

      45.4%

    • 2012

      37.2%

    • 2011

      50.7%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Funded Ratio


    • 2015

      74.2%

    • 2014

      77.5%

    • 2013

      73.8%

    • 2012

      69.0%

    • 2011

      72.7%

    • 2010

      70.4%

    • 2009

      65.6%

    • 2008

      96.6%

*Recommended not to combine dollar and other categories.

Contributions

Variable 2013 2014 2015
Employer Total Contribution (%) 0.190% NA NA
Employer Normal Cost Contribution (%) 0.088% NA NA
Employer Other Contribution (%) 0.102% NA NA
Employer Total Pension Contribution ($) $8,131 NA NA
Employer Normal Cost Contribution ($) $3,759 NA NA
Employer Other Contribution ($) $4,372 NA NA
Employee Contribution (%) NA 8.456% 8.636%
Employee Contribution ($) NA $359,018 $384,661
Payroll $4,281,764 $4,245,837 $4,453,921
  • Variable

    Employer Total Contribution (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.190%

    • 2012

      0.234%

    • 2011

      0.208%

    • 2010

      20.295%

    • 2009

      20.929%

    • 2008

      19.284%

  • Variable

    Employer Normal Cost Contribution (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.088%

    • 2012

      0.114%

    • 2011

      0.102%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Other Contribution (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.102%

    • 2012

      0.121%

    • 2011

      0.106%

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Total Pension Contribution ($)


    • 2015

      NA

    • 2014

      NA

    • 2013

      $8,131

    • 2012

      $9,836

    • 2011

      $9,424

    • 2010

      $881,717

    • 2009

      $896,684

    • 2008

      $659,016

  • Variable

    Employer Normal Cost Contribution ($)


    • 2015

      NA

    • 2014

      NA

    • 2013

      $3,759

    • 2012

      $4,768

    • 2011

      $4,615

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employer Other Contribution ($)


    • 2015

      NA

    • 2014

      NA

    • 2013

      $4,372

    • 2012

      $5,067

    • 2011

      $4,809

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Employee Contribution (%)


    • 2015

      8.636%

    • 2014

      8.456%

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      8.355%

    • 2009

      7.781%

    • 2008

      7.733%

  • Variable

    Employee Contribution ($)


    • 2015

      $384,661

    • 2014

      $359,018

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      $363,001

    • 2009

      $333,388

    • 2008

      $264,275

  • Variable

    Payroll


    • 2015

      $4,453,921

    • 2014

      $4,245,837

    • 2013

      $4,281,764

    • 2012

      $4,196,866

    • 2011

      $4,523,095

    • 2010

      $4,344,563

    • 2009

      $4,284,402

    • 2008

      $3,417,356

*Recommended not to combine dollar and other categories.

Benefit Levels

Variable 2013 2014 2015  
Benefit Formula 2% @ 55; 2.5% @ 55; 3% @ 55 2% @ 55; 2.5% @ 55; 3% @ 55; 2.7% @ 57 2.5% @ 55 Misc; 2% @ 62 PEPRA Misc; 3% @ 55; 2.7% @ 57 PEPRA Sfty  
Final Compensation Period 1; 1 1; 1; 3 1; 3; 1; 3  
COLA (%) 2; 2 NA NA  
Sick Leave Credit Y Yes Yes  
  • Variable

    Benefit Formula


    • 2015

      2.5% @ 55 Misc; 2% @ 62 PEPRA Misc; 3% @ 55; 2.7% @ 57 PEPRA Sfty

    • 2014

      2% @ 55; 2.5% @ 55; 3% @ 55; 2.7% @ 57

    • 2013

      2% @ 55; 2.5% @ 55; 3% @ 55

    • 2012

      2% @ 55; 2.5% @ 55; 3% @ 55

    • 2011

      2% @ 55; 2.5% @ 55; 3% @ 55

    • 2010

      2% @ 55; 2.5% @ 55; 3% @ 55

    • 2009

      2% @ 55; 1.25% @ 60; 3% @ 55

    • 2008

      2% @ 55; 3% @ 55

  • Variable

    Final Compensation Period


    • 2015

      1; 3; 1; 3

    • 2014

      1; 1; 3

    • 2013

      1; 1

    • 2012

      1; 1

    • 2011

      1; 1

    • 2010

      1; 1

    • 2009

      1; 3; 1

    • 2008

      1; 1

  • Variable

    COLA (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      2; 2

    • 2012

      2; 2

    • 2011

      2; 2

    • 2010

      2; 2

    • 2009

      0; 0

    • 2008

      2; 2

  • Variable

    Sick Leave Credit


    • 2015

      Yes

    • 2014

      Yes

    • 2013

      Y

    • 2012

      Y

    • 2011

      Y

    • 2010

      Y

    • 2009

      Y

    • 2008

      Y

Employee and Retiree Demographics

Variable 2013 2014 2015
Active Members 72 72 73
Retired Members 91 93 96
Retired/Active Ratio 1.26 1.29 1.32
Average Annual Pay, Active Members NA $58,970 $61,013
Average Annual Benefits, Retired Members and Beneficiaries NA $18,909 $18,442
Average Attained Age, Retired Members and Beneficiaries NA 67.4 67.9
  • Variable

    Active Members


    • 2015

      73

    • 2014

      72

    • 2013

      72

    • 2012

      67

    • 2011

      77

    • 2010

      73

    • 2009

      70

    • 2008

      65

  • Variable

    Retired Members


    • 2015

      96

    • 2014

      93

    • 2013

      91

    • 2012

      83

    • 2011

      86

    • 2010

      84

    • 2009

      83

    • 2008

      84

  • Variable

    Retired/Active Ratio


    • 2015

      1.32

    • 2014

      1.29

    • 2013

      1.26

    • 2012

      1.24

    • 2011

      1.12

    • 2010

      1.15

    • 2009

      1.19

    • 2008

      1.29

  • Variable

    Average Annual Pay, Active Members


    • 2015

      $61,013

    • 2014

      $58,970

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Average Annual Benefits, Retired Members and Beneficiaries


    • 2015

      $18,442

    • 2014

      $18,909

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Average Attained Age, Retired Members and Beneficiaries


    • 2015

      67.9

    • 2014

      67.4

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Agency Expenditure & Revenue

Variable 2013 2014 2015
Total Expenditures $15,227,205 $15,964,859 $16,707,295
Operating Expenditures $13,801,070 $14,645,214 $15,097,172
Total Revenues $16,049,632 $18,217,892 $17,502,533
Tax Revenues $8,224,175 $9,458,810 $8,328,433
  • Variable

    Total Expenditures


    • 2015

      $16,707,295

    • 2014

      $15,964,859

    • 2013

      $15,227,205

    • 2012

      $15,557,292

    • 2011

      $16,088,822

    • 2010

      $13,952,933

    • 2009

      $13,155,685

    • 2008

      $16,507,117

  • Variable

    Operating Expenditures


    • 2015

      $15,097,172

    • 2014

      $14,645,214

    • 2013

      $13,801,070

    • 2012

      $14,308,487

    • 2011

      $13,389,972

    • 2010

      $13,872,999

    • 2009

      $13,100,034

    • 2008

      $11,371,350

  • Variable

    Total Revenues


    • 2015

      $17,502,533

    • 2014

      $18,217,892

    • 2013

      $16,049,632

    • 2012

      $14,540,858

    • 2011

      $14,637,743

    • 2010

      $14,546,547

    • 2009

      $15,709,710

    • 2008

      $16,724,316

  • Variable

    Tax Revenues


    • 2015

      $8,328,433

    • 2014

      $9,458,810

    • 2013

      $8,224,175

    • 2012

      $7,557,047

    • 2011

      $7,537,211

    • 2010

      $7,528,531

    • 2009

      $6,526,760

    • 2008

      $5,159,178

*Recommended not to combine dollar and other categories.

Agency Demographics

Variable 2013 2014 2015
Population 11,112 11,135 11,163
Households 2,421 4,780 4,772
  • Variable

    Population


    • 2015

      11,163

    • 2014

      11,135

    • 2013

      11,112

    • 2012

      11,063

    • 2011

      11,010

    • 2010

      10,953

    • 2009

      10,902

    • 2008

      10,852

  • Variable

    Households


    • 2015

      4,772

    • 2014

      4,780

    • 2013

      2,421

    • 2012

      4,841

    • 2011

      4,839

    • 2010

      4,837

    • 2009

      4,837

    • 2008

      4,836

*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2013 2014 2015
Market Pension Debt
Market Pension Debt/Household $13,508 $6,740 $8,472
Market Pension Debt/Capita $2,943 $2,893 $3,622
Market Pension Debt/Total Expenditures 2.15 2.02 2.42
Market Pension Debt/Operating Expenditures 2.37 2.20 2.68
Market Pension Debt/Payroll 7.64 7.59 9.08
Market Pension Debt/Employer Total Pension Contributions 4,022.03 NA NA
Market Pension Debt/Total Revenues 2.04 1.77 2.31
Market Pension Debt/Tax Revenues 3.98 3.41 4.85
Actuarial Pension Debt
Actuarial Pension Debt/Household $3,992 $1,881 $2,238
Actuarial Pension Debt/Capita $870 $808 $957
Actuarial Pension Debt/Total Expenditures 0.63 0.56 0.64
Actuarial Pension Debt/Operating Expenditures 0.70 0.61 0.71
Actuarial Pension Debt/Payroll 2.26 2.12 2.40
Actuarial Pension Debt/Employer Total Pension Contribution 1,188.72 NA NA
Actuarial Pension Debt/Total Revenues 0.60 0.49 0.61
Actuarial Pension Debt/Tax Revenues 1.18 0.95 1.28
Employer Total Pension Contribution
Employer Total Pension Contribution ($)/Total Expenditures 0.1% NA NA
Employer Total Pension Contribution ($)/Operating Expenditures 0.1% NA NA
Employer Total Pension Contribution ($)/Total Revenues 0.1% NA NA
Employer Total Pension Contribution ($)/Tax Revenues 0.1% NA NA
  • Variable

    Market Pension Debt/Household


    • 2015

      $8,472

    • 2014

      $6,740

    • 2013

      $13,508

    • 2012

      $8,391

    • 2011

      $4,801

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Capita


    • 2015

      $3,622

    • 2014

      $2,893

    • 2013

      $2,943

    • 2012

      $3,672

    • 2011

      $2,110

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Expenditures


    • 2015

      2.42

    • 2014

      2.02

    • 2013

      2.15

    • 2012

      2.61

    • 2011

      1.44

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Operating Expenditures


    • 2015

      2.68

    • 2014

      2.20

    • 2013

      2.37

    • 2012

      2.84

    • 2011

      1.73

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Payroll


    • 2015

      9.08

    • 2014

      7.59

    • 2013

      7.64

    • 2012

      9.68

    • 2011

      5.14

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Employer Total Pension Contributions


    • 2015

      NA

    • 2014

      NA

    • 2013

      4,022.03

    • 2012

      4,129.73

    • 2011

      2,465.04

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Revenues


    • 2015

      2.31

    • 2014

      1.77

    • 2013

      2.04

    • 2012

      2.79

    • 2011

      1.59

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Tax Revenues


    • 2015

      4.85

    • 2014

      3.41

    • 2013

      3.98

    • 2012

      5.38

    • 2011

      3.08

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt/Household


    • 2015

      $2,238

    • 2014

      $1,881

    • 2013

      $3,992

    • 2012

      $2,234

    • 2011

      $1,858

    • 2010

      $1,869

    • 2009

      $2,107

    • 2008

      $185

  • Variable

    Actuarial Pension Debt/Capita


    • 2015

      $957

    • 2014

      $808

    • 2013

      $870

    • 2012

      $977

    • 2011

      $816

    • 2010

      $826

    • 2009

      $935

    • 2008

      $83

  • Variable

    Actuarial Pension Debt/Total Expenditures


    • 2015

      0.64

    • 2014

      0.56

    • 2013

      0.63

    • 2012

      0.70

    • 2011

      0.56

    • 2010

      0.65

    • 2009

      0.77

    • 2008

      0.05

  • Variable

    Actuarial Pension Debt/Operating Expenditures


    • 2015

      0.71

    • 2014

      0.61

    • 2013

      0.70

    • 2012

      0.76

    • 2011

      0.67

    • 2010

      0.65

    • 2009

      0.78

    • 2008

      0.08

  • Variable

    Actuarial Pension Debt/Payroll


    • 2015

      2.40

    • 2014

      2.12

    • 2013

      2.26

    • 2012

      2.58

    • 2011

      1.99

    • 2010

      2.08

    • 2009

      2.38

    • 2008

      0.26

  • Variable

    Actuarial Pension Debt/Employer Total Pension Contribution


    • 2015

      NA

    • 2014

      NA

    • 2013

      1,188.72

    • 2012

      1,099.34

    • 2011

      953.75

    • 2010

      10.26

    • 2009

      11.37

    • 2008

      1.36

  • Variable

    Actuarial Pension Debt/Total Revenues


    • 2015

      0.61

    • 2014

      0.49

    • 2013

      0.60

    • 2012

      0.74

    • 2011

      0.61

    • 2010

      0.62

    • 2009

      0.65

    • 2008

      0.05

  • Variable

    Actuarial Pension Debt/Tax Revenues


    • 2015

      1.28

    • 2014

      0.95

    • 2013

      1.18

    • 2012

      1.43

    • 2011

      1.19

    • 2010

      1.20

    • 2009

      1.56

    • 2008

      0.17

  • Variable

    Employer Total Pension Contribution ($)/Total Expenditures


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.1%

    • 2012

      0.1%

    • 2011

      0.1%

    • 2010

      6.3%

    • 2009

      6.8%

    • 2008

      4.0%

  • Variable

    Employer Total Pension Contribution ($)/Operating Expenditures


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.1%

    • 2012

      0.1%

    • 2011

      0.1%

    • 2010

      6.4%

    • 2009

      6.8%

    • 2008

      5.8%

  • Variable

    Employer Total Pension Contribution ($)/Total Revenues


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.1%

    • 2012

      0.1%

    • 2011

      0.1%

    • 2010

      6.1%

    • 2009

      5.7%

    • 2008

      3.9%

  • Variable

    Employer Total Pension Contribution ($)/Tax Revenues


    • 2015

      NA

    • 2014

      NA

    • 2013

      0.1%

    • 2012

      0.1%

    • 2011

      0.1%

    • 2010

      11.7%

    • 2009

      13.7%

    • 2008

      12.8%

*Recommended not to combine dollar and other categories.

Pension Tracker

Stanford Institute for Economic Policy Research
366 Galvez Street
Stanford, CA  94305-6050
admin@pensiontracker.org