National Developments

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.

read more...
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.

read more...

Archive

  • +2018
  • +2017
  • +2016