January, 2016

28
Jan
2016

Massachusetts’ Dennis-Yarmouth Regional School District joins PCOT

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

The Dennis-Yarmouth Regional School Committee voted to allow the district to join the Plymouth County OPEB Trust Program (PCOT) at its Monday, Jan. 25 meeting.

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21
Jan
2016

Massachusetts State Pension Fund Ekes Out Small Gain

Categories: New England Developments,Pension Rate Stabilization

The $60 billion Massachusetts state pension fund expects to post investment returns of just over 1 percent for 2015. These findings were disclosed and discussed during a recent investment committee meeting of the Pension Reserves Investment Management (PRIM) board.

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19
Jan
2016

Retirement Liabilities in CA Remain Despite State Budget Surplus

Categories: California Developments,OPEB/GASB 45/75

Despite this month's proposed California budget surplus, there’s still a looming financial hurdle: Unfunded pension and health care liabilities of $220 billion for future retirees who work for the state and the University of California system. After four years of focus to financial improve state pensions CalPERS and CalPERS, attention is now being turned to unfunded health care liabilities, or OPEB. A new proposal includes paying into a trust that accrues invest returns over time, reducing the amount of money taxpayers must contribute in the future.

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13
Jan
2016

South Carolina pension system faces $11 billion shortfall

Categories: National Developments

South Carolina should change its pension system to address a shortfall of up to $11 billion in 2043, according to a report on the state’s pension system released in late December. Other suggestions include having the state decrease the time it takes to pay off new pension debt and to potentially cap alternative investments — including real estate, hedge funds and private equity — which charge high fees.

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07
Jan
2016

Plymouth County OPEB Trust – Are You In?

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

In its first nine months of operation, 14 entities throughout Cape Cod and Southeastern Massachusetts have joined the Plymouth County OPEB Trust (PCOT) to prefund their retiree healthcare benefits. PCOT is a distinctive multipler-employer trust for entities in Plymouth, Barnstable, Bristol and Norfolk Counties that provides “turn-key,” full-service benefits that include trust administration, trustee and investment management services.

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