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` N ORA,,, <br />0 " <br />fl SANTA ANA <br />f <br />Nt <br />q�UFI <br />Pension Management Toolbox <br />1. Allocate Pension Debt costs to funds with personnel <br />costs <br />2. Section 115 Trust <br />• Set aside additional money for future CaIPERS payments to <br />stabilize costs over time <br />• More control over the investments <br />3. Use of Reserves & One -Time Monies to make additional <br />discretionary payments <br />• 1.0% City Investment Return vs 7.0% CaIPERS Discount Rate <br />4. Tax -Exempt Exchange <br />• Use accumulated cash for capital projects and issue tax-exempt <br />debt at a lower rate than taxable pension refinancing bonds <br />5. Issue Bonds to Refinance the Debt <br />