City Manager’s Weekly Update

July 23, 2021

Pension Update: The California Public Employees’ Retirement System (CalPERS) reported a preliminary 21.3% net return on investments for the 12-month period ending June 30. This compares to an expected earnings (discount) rate of 7.0%. Under CalPERS Funding Risk Mitigation Policy enacted in 2015, discount rate used to calculate employer and member contributions will be reduced to 6.8% from 7%. CalPERS said that from the preliminary returns, it estimates the pension system as a whole has a funded status of 82% based on a 7% assumed rate of return, and 80% based on the new 6.8% assumed rate of return. The drop in the discount rate will help stabilize the City’s contributions going forward and is fully funded by the gains above expectations. CalPERS expects PEPRA employees, those new to public service in California after January 1, 2013, to see required normal cost (payroll contribution) increases of 0.5% or more as a result of this discount rate drop. The impact of these required changes will become effective July 1, 2023.

Despite CalPERS banner earnings year, the rate of return on the City’s investments in its Pension Stabilization Fund at PARS (Public Agency Retirement Services) once again beat CalPERS. PARS returned 23.98% for the 12 months ending June 30. This resulted in earnings just shy of $4.0 million for the year and a balance as of June 30 just shy of $20.5 million. Sound fiscal policy coupled with these strong market returns have allowed Lodi to make major progress in addressing the pension funding crisis that still faces California public agencies.

Demolition Derby: Patrol responded to a collision on Lodi Avenue involving a large work truck and a silver vehicle. Witnesses saw a small silver vehicle swerve into the path of the truck and blatantly cut it off. The large truck swerved and struck a parked vehicle, a 2004 Chevy Trailblazer. The blunt force of the collision launched the Trailblazer where it collided with a city street light pole and then continued for another 87 feet into a parked Nissan Sentra. The force of the collision pushed the Nissan Sentra into a 2008 Toyota Prius. There were no injuries. The silver car that caused the collision fled w/b on Lodi Ave. The delivery truck had major front end damage. The Trailblazer was completely totaled. The Nissan and the Toyota had major damage as reported by Officers Dunfee, Cascio and Sargent Maynard.

Mysterious Visitor: Fire Crews responded to General Mills for a male with a leg injury. Crews had to search the property to find the patient who was trying to guide them in by cell phone (Marco Polo style). The patient was located on the roof of General Mills with a compound fracture to the leg. Crews had to set up for a high angle rescue system to get the patient off the roof. The patient injured his leg by either falling or jumping from one roof level to another. It is unknown why the individual was on the property and how he made it onto the roof. Our Fire Crews are exceptional at their skill.

Armed Robbery: Officers responded to a report of a delayed robbery at gunpoint that occurred in the area of S. Garfield and E. Vine. The victim reported she was robbed at gunpoint by two suspects whom she later identified as a 31-year old male of Lodi and a 39-year old female of Lodi. The victim reported the male held her at gunpoint and pushed her to the ground and then the female punched the victim several times in the face while the male took her purse. The suspects fled in a black 2012 Chrysler 300. Investigations responded and authored Ramey warrants for the suspects and a search warrant for their residence. The female was taken into custody after she left the residence in the involved vehicle. 2 loaded firearms were located inside the vehicle. SWAT executed the search warrant on the residence and the male was taken into custody without incident. The victim’s purse and cell phone were recovered. Both suspects were charged with robbery, conspiracy and a myriad of weapons charges. Great work of our Officers, Investigations and SWAT.

Bob Johnson Park – Ribbon Cutting: Saturday, July 24th, you are invited to a ribbon cutting event for the opening of Bob Johnson Park from 9:00 am – 10:00 am (2900 Gala Drive, Lodi, located west of the Walmart shopping center).

Enjoy refreshments, a few words from our community leaders and Bob’s family, and play at the new Park!

Register Today!

Play Lodi! Fall 2021 Activity Guide is now available!

View the guide here

Youth: Adults:

• Tot & Youth Basketball Adult Fall Softball • Ballet & Dance Tennis • Swim Lessons Tai Chi for Wellness • Kids in Tune Ballet, Tap & Belly Dance • Computer Coding And More! • After School Program • Fall Break Camp

Scholarships:

• Play Lodi Scholarships for Kids (all programs) - See page 21 in the guide for details • Aquatic program scholarships are available through the Brian M. Stocker Fund. Click here for details or view page 9 of the guide

###