18
May
2017

Weymouth, MA to Join Plymouth County Trust for Retiree Health Costs

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

The Weymouth town council approved a proposal to enroll Weymouth post retirement health care for municipal employees in the Plymouth County OPEB Trust (PCOT) fund to comply with new financial recording requirements by the Governmental Accounting Standards Board. Councilor-at-large Michael Molisse , chairman of the budget-management committee said, ” a lot of work was done and they (PCOT) were highly recommended. I think it will be good.”

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10
May
2017

Does the CalSTRS Board Have Authority to Increase Rates After Last Statutory Increase?

Categories: California Developments,Pension Rate Stabilization

Does the California State Teachers’ Retirement System (CalSTRS) Board have the authority to make rate adjustments after the last statutory increase is implemented in 2020-21?

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03
May
2017

Rhode Island OPEB Funding Program Reaches Milestones

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

The Rhode Island Interlocal Risk Management Trust’s OPEB Funding Program, in less than two years in existence, has reached two important milestones; the Program now has in excess of $50 million in assets, and two participating entities have achieved their first fee reduction.

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26
Apr
2017

PARS Retirement Package entices 35 Moorpark Unified Teachers

Categories: California Developments,Early Retirement Incentives,PARS In the News

At its April 11 meeting, the Moorpart USD board of trustees voted 4-0 to implement the PARS Supplementary Retirement Plan (SRP), a move that will reduce payroll costs and save the district millions over five years.

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10
Apr
2017

CalSTRS Unfunded Liability and State Contribution Rate Increases

Categories: California Developments,Pension Rate Stabilization

On April 6, 2017, the California State Teachers’ Retirement System (CalSTRS) Board adopted the latest actuarial valuation of the retirement system. Despite increases in contribution rates by members, employers, and the state, the funded ratio decreased from 68.5% to 63.7%, and the unfunded actuarial obligation (commonly called the unfunded liability) increased from $76.2 billion to $96.7 billion.

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