This fiscal year, Kern County will spend $245.9 million to fund pensions for current and retired workers, a mix of cash payments and principal and interest on pension bonds.
That’s around $15 of every $100 in the county’s $1.6 billion annual budget.
The county will pay millions more each year for the rest of this decade, number crunchers for Milliman Inc., the Kern County Employees’ Retirement Association’s contract actuarial firm, told the association board last June.
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