The fact that Beverly Hills is facing $286.1 million of unfunded pension liabilities by the end of June, as revealed in a recent presentation to City Council, is profound. For context, that amount would fund the Beverly Hills Police Department for five years.
In fact, the City’s entire projected current fiscal year revenue stream of $265.7 million is still less than its total known unfunded pension liabilities, which represents the City’s obligations in paying the pensions of its employees.
