GASB designed the new OPEB
statements to resemble the previously issued pension requirements in Statement no.
Since few employers have funded any of their OPEB
liability, this component will be negligible for most employers, at least initially.
9 billion liability for OPEB
, which it is beginning to address through the establishment of an OPEB
trust (which will fund approximately 2% of the liability) using a contribution credit reserve in the pension system.
The selected vendor is to provide the Town of East Hartford with an actuarial valuation of OPEB
liabilities split between the Town and Board of Education with an effective valuation date of July 1, 2015 and every two years thereafter for a total of five (5) valuation reports prepared over eight years.
The report also has data for plans with a single set of premiums, irrevocable OPEB
trusts, service-based retiree premiums, plans in which the employer pays the retiree's entire premium, plans with grandfathered provisions, spouse subsidies, benefits for retirees who are eligible for Medicare, and additional life insurance benefits.
21 /PRNewswire/ -- PFM Advisors' OPEB
(Other Post-Employment Benefits) practice passed an important milestone on August 31, reaching $1 billion in assets under advisement and further cementing its reputation as one of the nation's leading OPEB
For termination benefits provided through an existing defined benefit OPEB
plan, the provisions of this Statement should be implemented simultaneously with the requirements of Statement 45.
In practice, most companies will not fund OPEB
plans because contributions in excess of payments to retirees are not tax deductible.
2 million appropriation of fund balance to once again support increased contributions to its OPEB
While some have accused the council of kicking the can down the road when it comes to OPEB
, others have said there is little it can do to tackle the problem head on without having a devastating budgetary impact on municipal programs and services.
Under MTM accounting, the Company's pre-tax pension and OPEB
costs for the nine-month period ended September 30, 2012 would have been lower than previously reported by approximately $45 million.
Measurements by Agent Employers and Agent Multiple-Employer Plans, addresses issues related to measurement of OPEB
obligations by certain employers participating in agent multiple-employer OPEB