R.I. Towns & Cities Look Beyond Pension Liabilities to an Even Bigger Problem: OPEBsCategories: New England Developments,OPEB/GASB 45/75,PARS News
A majority of Rhode Island cities and towns have zero, or next-to-zero, money set aside to pay for OPEB liabilities, which the state estimates exceeds $3 billion in aggregate and is funded at 1.4 percent. Because there's no money set aside, the liabilities - funded on a pay-as-you-go basis each year - eat away at operating budgets at an increasing pace. "That [liability] is increasing each year and that number is significant," said Kathryn Cannie, Senior Consultant at PARS.read more...
Juggling Pension And OPEB LiabilitiesCategories: California Developments,OPEB/GASB 45/75,Pension Rate Stabilization
The Alert – Public Agency Coalition by Amy Brown, August 15, 2016
Even though pension liabilities seem to get all the media attention with controversy forever surrounding issues like the appropriate discount rate, for years the experts have been tellingread more...
OPEB Prefunding from Coast to CoastCategories: New England Developments,OPEB/GASB 45/75
During the last 12 months, 58 public agencies decisively started prefunding their OPEB liabilities with the comprehensive and economically sound PARS OPEB Trust Program. Today, the program is one of the largest OPEB trust programs in the nation.read more...