January, 2016
Jan
2016
Massachusetts’ Dennis-Yarmouth Regional School District joins PCOT
Categories: New England Developments,OPEB/GASB 45/75,PARS NewsThe 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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2016
Massachusetts State Pension Fund Ekes Out Small Gain
Categories: New England Developments,Pension Rate StabilizationThe $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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2016
Retirement Liabilities in CA Remain Despite State Budget Surplus
Categories: California Developments,OPEB/GASB 45/75Despite 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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2016
South Carolina pension system faces $11 billion shortfall
Categories: National DevelopmentsSouth 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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2016
Plymouth County OPEB Trust – Are You In?
Categories: New England Developments,OPEB/GASB 45/75In 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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