Unfunded Liabilities - Moreno Valley

Council Action in 2011City Council adopted cost reduction actions as anelement of the 3-Year Deficit Elimination PlanAction included creating a Tier 3 Benefit level forall new-hires after September 30, 2011The Defined Benefit for Retiree Medical waseliminatedCity Council relied on the Defined ContributionVoluntary Employee Benefit Administration (VEBA)program to prefund the Retiree Medical benefit18