The Sonoma County Public Pension Crisis

Please see Ken Churchill's description of the Sonoma County pension crises in his white-paper, accessible here.

Sonoma County has the highest unfunded pension obligations per capita than any other county in California. Under new accounting rules for state and local governments, unfunded pension obligations are estimated to jump from $249 million to $388 million.

In addition, the county has $515 million in pension obligation bonds that need to be repaid, brining the total pension liabilities to $903 million. Interest on the pension obligation bonds alone amount to over $16 million per year or about 4 times the amount the county is committing for roads from its general fund annually.

Please read the Sonoma County Taxpayers' Association (http://sonomacountytaxpayers.org/) Position Paper on public pension costs accessible here.