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Submitted by Councilmember Posey - California Public Employee Retirement System (Cal-PERS) and Environmental, Social, or Governance (ESG) plans
recommendation
Direct the Finance Commission to study the impact of Cal-PERS’ ESG policy on Huntington Beach’s unfunded pension liability, then to report back to the Council with an estimate of what amount of the City’s unfunded liability is due to or was increased by Cal-PERS’ ESG policies. Concurrent with that report, direct the City Attorney to report back on a legal strategy to address any losses to HB’s Cal-PERS plan due to Cal-PERS’ ESG policies.
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