Home Personal Finance Pension debt a burden for Burlingame | Local News

Pension debt a burden for Burlingame | Local News

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The city of Burlingame is looking at around $94 million in projected unfunded liability on its pension plan for 2023, but that amount could be reduced by $20 million in a supplemental trust established by the city.

Doug Pryor, of Foster & Foster Inc., an actuary consulting firm, presented to the City Council Jan. 16. Pryor said the firm predicted Burlingame had around $94 million in unfunded pension plan liability — with $54 million from miscellaneous municipal and city employee pensions and $40 million from police pensions.

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