OPEB Funding Level
RETIREE HEALTH BENEFITS ARE EXPECTED TO BE FULLY FUNDED BY 2043
How San Francisco is Performing
The City’s unfunded liability is projected to continue to grow for many years, albeit at a slower rate, given that the City’s employees’ prefunding contributions are less than the interest due on the accumulated liability. Recent actuarial valuation projections predict that the City will gradually reduce its accumulated unfunded liability and reach a fully-funded status by 2043, with employer contributions never exceeding 10 percent of payroll.