February, 2015

24
Feb
2015

Success Strategies for Well-Funded Pension Plans

Categories: National Developments

The Center for State and Local Government Excellence examined the public pension systems in four states with a long tradition of being well-funded to determine what they have in common.

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18
Feb
2015

GASB 67: A Mixed Bag For Public Pension Funds

Categories: National Developments

Some public pension funds are reporting higher asset values under GASB 67 because of strong returns in recent years, said a new report from Fitch Ratings. “In an accident of timing, the transition to GASB 67 is taking place at a very favorable moment in the economic cycle for reporting asset valuations. In most cases, the market value of assets reported by systems under GASB 67 is much higher than the smoothed asset value reported previously,” the report said.

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17
Feb
2015

Plymouth County, MA Establishes OPEB Trust (PCOT)

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

On January 15, 2015, Plymouth County Commissioners voted unanimously to approve a first-of-its-kind program that will enable municipalities and other public entities in Plymouth County and the surrounding counties to cost-effectively reduce their retiree healthcare obligations. The Plymouth County OPEB Trust, otherwise known as "PCOT," will bring collective investment, legal, and administrative economies of scale to participating members that seek to fund future Other Post Employment Benefits or "OPEB" liabilities.

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16
Feb
2015

Solano County OKs PARS trust to Deal with Retirement Costs

Categories: California Developments,PARS In the News

The Board of Supervisors took another step Tuesday in dealing with Solano County’s retirement costs with the California Public Employees’ Retirement System. County supervisors voted unanimously to set up a special trust for post-employment benefits. A retirement trust allows greater local control over assets, with future contributions transferred to CalPERS at the county’s discretion, the report said. Payments into the trust will bring down the unfunded liability of the county and will reduce the future employer retirement rates, the report said.

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11
Feb
2015

U.S. Public Pensions Return 6.8% in 2014 for Six Years of Gains

Categories: National Developments

U.S. public pensions reported median returns of 6.8 percent last year, the sixth year in a row of gains after the financial crisis, according to Wilshire Associates. The gains, though, are less than the annual investment returns of 7.5 percent to 8 percent that many state and local governments count on to pay benefits for teachers, police and other employees. In the 10 years through Dec. 31, public pensions had a median return of 6.6 percent.

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