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Marin Coalition

Addressing Unfunded Employee Pensions - A Major Challenge for Local Governments in Marin

The Club at McInnis Park Golf Center,
350 Smith Ranch Rd.
San Rafael, California
December 6, 2017
11:00 am - 1:30 pm


Laurence Reed — 2016-17 Marin County Civil Grand Jury Member

Gary Phillips — Mayor, City of San Rafael

One of the major issues that local governments must now deal with is unfunded employee pensions. The Marin County Civil Grand Jury recently examined the issue of employee retirement funding facing forty-six public agencies in Marin and found that those agencies had one billion dollars in unfunded pension liabilities. How government agencies elect to address this issue impacts all Marin residents.

Laurence Reed, Chairman of the Marin County Civil Grand Jury Committee that prepared its recent report on Marin Government Pensions will present the Civil Grand Jury findings and recommendations and San Rafael Mayor Gary Phillips will then discuss the strategy his City is using to address the unfunded pension issue. Attendees should expect an informative and interesting discussion of this issue.

Larry Reed is a retired financial executive with 28 years of experience in banking, investment management and credit risk analytics. He has extensive experience as a senior executive in the areas of finance, mergers & acquisitions, strategic planning, portfolio management, compensation and technology. He served on the 2016-17 Marin County Civil Grand Jury and was Chair of the Committee that prepared the Report of Funding Marin’s Public Employee Pensions and Retirement Health Care Benefits.

Larry has been active in his community. He has been on the board of the Corte Madera Community Foundation since 2009. Previously, he served on the advisory board of Touro University in Vallejo; was a financial advisor and member of the Audit Committee of the Polly Klaas Foundation; and served a term as a Trustee of the Larkspur School District. Larry earned his BA in Political Science at the State University of New York at Cortland and his MBA from San Francisco State University.

Mayor Phillips is serving in his second term as mayor of San Rafael, and has served on the San Rafael City Council for 12 years from 1995 to 2007. He and his wife have lived in San Rafael for over 40 years and have raised their three children here. In his professional life, Gary is a retired partner of DZH Phillips LLP, a San Francisco CPA/Business Advisory and Consulting firm with a staff of over 120 in several Bay area offices. He served as Managing Partner for 15 years, and as a certified public accountant and valuation analyst, as well as head of the Business Consulting and Advisory services division. Gary sat on the advisory boards of Golden Gate University and a regional bank. He received his Bachelor’s Degree and MBA from Humboldt State University and additionally has studied at the UC Berkeley and Harvard University.

Organization: Marin Coalition

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