July, 2013

26
Jul
2013

The Retirement Surprise In Detroit’s Bankruptcy

Categories: National Developments,OPEB/GASB 45/75

When Detroit recently filed for bankruptcy, one number surprised a lot of observers--$6.4 billion in other post-employment benefits (OPEB). OPEB is primarily comprised of unfunded obligations to pay health care costs for municipal employees.

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12
Jul
2013

City of Novato and Town of Atherton Adopt the PARS OPEB Trust to Reduce Retiree Health Care Liability

Categories: Hot Sheets,OPEB/GASB 45/75

By now OPEB is a familiar term to local officials. It involves an unfunded liability for post-employment benefits promised to retirees from the public sector.  Although agencies are not required to pre-fund this obligation (GASB 45), many have chosen to

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