March, 2014

28
Mar
2014

Latest CalSTRS Valuation Released

Categories: California Developments

As expected, with the release of the California State Teachers' Retirement System (CalSTRS) Board agenda for next week, the latest actuarial valuation was made public. The actuarial valuation identifies the extent to which the current and future assets of CalSTRS are sufficient to pay the benefits promised to its members under current law over a 30-year period.

read more...
27
Mar
2014

Focusing on Retiree Health Benefits

Categories: California Developments,OPEB/GASB 45/75

There’s been little talk of OPEBs of late. But that wasn’t always the case. Before Governor Jerry Brown’s pension reform plan, Governor Schwarzenegger had his Public Employee Post-Employment Benefits Commission (PEBC). When the PEBC completed its report in 2007, it concluded that pension benefits aren’t the pressing problem– it’s OPEB prefunding that really warrants attention. Is OPEB prefunding any less desirable today? Certainly not; prefunding is hands-down the most fiscally prudent means of providing OPEB benefits. Is that realistic in today’s environment? For many it boils down to a matter of reality, legal obligations, and limited resources.

read more...
18
Mar
2014

Wave of retirements could reshape San Diego schools

Categories: Early Retirement Incentives,PARS In the News

By eliminating some of the most seasoned teachers from the district payroll, San Diego Unified would shave millions off its looming multiyear budget deficit. The annuity package would generate $8.3 million in savings to help offset an estimated $115.6 million deficit to next year’s $1.1 billion operating budget. More savings would be felt over time as the higher-paid veteran teachers are replaced with newer educators at the lower end of the pay scale.

read more...
17
Mar
2014

STRS Funding: Are we going there?

Categories: California Developments

Last year in January, the Public Retirement Journal published an article titled “STRS Funding: Our 2013 Pension Problem.” Turns out... it wasn’t much of a problem in 2013 after all, primarily because it was pushed under the rug. It’s now 2014 and it’s still unclear whether this enormous pension problem, which tarnishes all public employee pensions, will be hogging the spotlight in 2014. The problem – namely the intentional underfunding of the massive State Teachers’ Retirement System (STRS) has been the elephant in the room during the last few years of budget talks and pension reform negotiations.

read more...
05
Mar
2014

PARS OPEB Trust Expanding to More States!

Categories: OPEB/GASB 45/75,PARS In the News

Exciting news! PARS’ IRS-approved multiple-employer Section 115 Trust is expanding its reach. This popular GASB 45 compliant solution, already the largest private OPEB trust in California and Texas, is now available for public agencies to pre-fund retiree health care across the nation.

read more...

Archive

  • +2017 (8)
  • +2016 (26)
  • +2015 (60)
  • +2014 (41)
  • +2013 (28)
  • +2012 (56)
  • +2011 (43)
  • +2009 (1)
  • +2004 (2)