CalPERS GASB 68 Accounting Valuation Reports

CalPERS Classic Members are those employed by a CalPERS agency or reciprocal pension system with CalPERS prior to January 1, 2013. The above valuations "do not" pertain to members first employed by a CalPERS agency or reciprocal pension system with CalPERS after December 31, 2012.  These new hires are referred to as "PEPRA" employees (Public Employees' Pension Reform Act of 2013). The Town did not have any "PEPRA" employees as of the June 30, 2014 valuation date.  Next year (2016) there will be an additional valuation for the "Miscellaneous PEPRA Employees". The Town has no "Safety PEPRA Employees" as of September, 2015.