Big CalPERS news was released this week – pension plan investment returns for the year ending 6/30/2021 is 21.3%. This is well above the expected return of 7%. While excellent news, some years have been below 7% so there is a balancing. Town of Yountville CalPERS is now funded at a near 80% level, increasing from its prior 71% level.
CalPERS Health premium increases were also announced. Kaiser Plan premium rates will increase by 5.65% in January 2022. 75% of Town health plan participates are on this plan. The remainder of the plan participates on the PERS Choice and PERS Select plans, which will increase by a weighted average of 8.67%. By way of comparison, the PwC Health Research Institute report estimated an increase of 6.5% for 2022, and the Town of Yountville budgeted for an increase of 7%.