March, 2016

29
Mar
2016

Debunking the Top 6 Myths of OPEB Prefunding

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

PARS refutes six of the most common OPEB prefunding myths that we hear from many municipalities and schools we talk to in the Northeast.

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20
Mar
2016

What Can Be Done to Deal With CalSTRS & CalPERS Rate Increases

Categories: California Developments,PARS In the News,Pension Rate Stabilization

With local educational agencies (LEAs) may soon be in a cost-of-living adjustment (COLA) only environment, while at the same time faced with continued pension obligation increases. With no legislation solution in sight, what can be done to with CalPERS and CalSTRS contribution rate increases?

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16
Mar
2016

A New Tool for Pension Budgeting

Categories: California Developments,PARS In the News,Pension Rate Stabilization

With our maturing public pension plans, we know that we should expect greater fluctuations in required contributions from year to year. And since we know big fluctuations are coming, our actuaries are warning employers to plan for it in order to ease the burden when big contribution increases do arrive. But how exactly does one do that? PARS' Pension Rate Stabilization Program

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15
Mar
2016

Top 10 Reasons to Prefund Your Other Post Employment Benefits

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

With many agencies facing growing OPEB liabilities, and GASB 75 on the horizon, now is the time to start addressing its long-term OPEB obligations. Here is a list of 10 key advantages that an agency can benefit from by prefunding into a GASB and IRS-compliant OPEB Trust.

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10
Mar
2016

How Big a Burden Are State and Local OPEB Benefits?

Categories: National Developments,OPEB/GASB 45/75

The Center for State and Local Government Excellence has released a new issue brief that examines the unfunded liabilities of retiree health benefits to state and local governments.The three key insights are: (1) Aggregate unfunded OPEB liabilities are an estimated $862 billion – nearly two thirds of which is held at the local level; (2) these unfunded liabilities are equivalent to 28 percent of the unfunded liabilities of pensions (using the OPEB interest rate for pensions); and (3) while OPEB liabilities are large, several factors – such as sponsors’ flexibility to scale back benefits – limit their potential drain on resources.

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