November, 2015

30
Nov
2015

City of Rowlett Joins the PARS OPEB Trust Program

Categories: Hot Sheets,OPEB/GASB 45/75,Texas Developments

When the Governmental Accounting Standards Board (GASB) first released Statement 45 detailing new OPEB accounting standards, the City of Rowlett was one of the many forward-thinking government entities that took notice. Smartly, Rowlett began requesting biennial actuarial reports and placed current OPEB liabilities on their financial reports. After a few report cycles, the data clearly showed steadily rising OPEB costs and liabilities that would need to be addressed.

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21
Nov
2015

GASB 75 – OPEB Liabilities Take Center Stage

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

Recently announced GASB Statement 75 will significantly alter the reporting standards of GASB 45, escalating OPEB liabilities and increasing pressure on public agencies to prefund these obligations. Beginning in 2017, GASB 75 will move accounting for OPEB liabilities from a footnote on financial statements directly to balance sheets and change the way liabilities are calculated.

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16
Nov
2015

Fowler USD’s Long-term Vision for OPEB Prefunding Brings Success

Categories: California Developments,Hot Sheets,OPEB/GASB 45/75

With their vision and discipline to prefund OPEB through the GASB-compliant, IRS-approved CSBA PARS Program, Fowler is in great shape to not only weather GASB 45 currently in effect, but also the new GASB 75 requirements released this year and effective June 2017.

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12
Nov
2015

Palo Alto Eyes Bonds, Trusts to Address Unfunded Pension Liability

Categories: California Developments,Pension Rate Stabilization

Supplemental trusts and obligation bonds are among the options the City of Palo Alto has to pay down its $296 million unfunded employee pension liability. John Bartel, an actuary with Bartel Associates, said the city could use an "irrevocable supplemental 115 pension trust" for rate stabilization. And, putting money into a trust also reduces the city's unfunded liability amount at the same time.

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07
Nov
2015

Easy Options & Simple Set-Up for Valley Collaborative

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

With the recent addition of retiree health care to its employee benefits package, the Collaborative saw the importance of setting aside money to pay for these future benefits, and subsequently determined that an OPEB trust program would be the most effective way to manage the costs long-term. Valley Collaborative found their OPEB prefunding solution with the PARS OPEB Trust Program.

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