County’s pension debts still high, but gap is gradually closing

RIVERSIDE (CNS) - Riverside County's unfunded pension liabilities fell slightly in the last year, thanks in part to bond issuances that covered long-term obligations, but the county remains shy of the funded status needed to validate robust financial health, according to a report that the Board of Supervisors will review today.The Pension Advisory Review Committee's 16-page narrative contains many of the same elements as the one issued a year ago, but shows limited gains have been made, despite market turmoil over the last 11 months.According to the report, the county's retirement apparatus is now 71% funded, compared to 70% in January 2020.Although the unfunded pension gap increased from $3.5 billion to $3.6 billion in that time, the total market value of the county's assets a
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