December, 2013

27
Dec
2013

Retiree Health-Care Benefits: The Next Shoe to Drop?

Categories: OPEB/GASB 45/75

Kentucky joined scores of states and municipalities in passing legislation that aims to tackle the state’s woeful funding of its pension plans for retired workers. But lurking in the background of that $33 billion unfunded liability is another multibillion dollar problem waiting to happen: how to pay for the rising cost of retiree health care. Kentucky is taking a rather unusual approach and opting to issue bonds in order to cover its annual costs for "other post-employment benefits" (OPEB), which includes benefits like health care and life insurance for retired workers... The tactic of borrowing money to pay for those costs has not won the state favor with ratings analysts.

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13
Dec
2013

Santa Maria-Bonita School District Saves BIG With a PARS Early Retirement Incentive

Categories: Early Retirement Incentives,Hot Sheets

Santa Maria-Bonita School District first utilized the PARS Early Retirement Program (aka Supplementary Retirement Program or SRP) back in 1995, and has been conducting early retirement incentive plans on a periodic basis ever since. The incentive achieved high participation and savings - more than $870,000 over the next five years!

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13
Dec
2013

The Superior Courts of the Counties of Marin, San Mateo and Shasta Join the Full-Service OPEB Trust

Categories: Hot Sheets,OPEB/GASB 45/75

PARS created a comprehensive “one-stop” program to help agencies like the Superior Courts of California, with the challenges of complying with GASB 45 related to retiree health care benefits. Many courts have recently been contacting PARS about pre-funding OPEB for a number of reasons...

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