September, 2014

23
Sep
2014

Pensions’ Unfunded Liabilities Still Going Up

Categories: National Developments

A new survey finds that pension funding levels across all states and major cities inched downward in 2013 and that cities are bearing a greater burden in their budgets than states.

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22
Sep
2014

Retiree Health Care Costs are Straining Budgets in MA’s Poorest Cities

Categories: New England Developments,OPEB/GASB 45/75

The bulletin analyzes retiree health care spending in nine of 10 municipalities with the lowest per capita income in Massachusetts. It examines two measures of retiree health care costs: the increase in retiree health care spending relative to the increase in property tax revenues between fiscal 2009 and fiscal 2013, and retiree health care spending as a share of total property tax revenues in fiscal 2013.

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16
Sep
2014

Controller Finds Pension Spiking Vulnerabilities at CalPERS

Categories: California Developments

The California State Controller’s Office’s recent review of CalPERS found oversight of reported payroll from employers to be lacking pension spiking controls, but could not identify any specific cases. "The good news is that my office sampled 11 employers within the CalPERS system and found no incidences of pension spiking," said Controller John Chiang. "The discouraging news is CalPERS’s lack of robust auditing, underutilization of advanced technology, and its generally passive approach to the problem invites abuse. (CalPERS) can and must be more vigorous in protecting taxpayers from this form of public theft."

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16
Sep
2014

Legislative Alert – September 2014

Categories: California Developments,Legislative Updates

A legislative session has come and gone without much fanfare in the world of pensions. The big issues we were witness to came from the PERS system, local initiatives and court rulings. That certainly doesn’t mean we were left void of any changes to pension or other post employment benefit (OPEB) laws.

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