OPEB

AcronymDefinition
OPEBOther Post-Employment Benefits
OPEBOther Postretirement Obligations (pensions/retirement)
OPEBOrdinary Potential Energy Box (surface geometry)
References in periodicals archive ?
It wasn't until 2012 that the city finally established a trust fund to address its OPEB liability.
In addition, this Statement clarifies that when actuarially determined OPEB measures are reported by an agent multiple-employer OPEB plan and its participating employers, those measures should be determined as of a common date and at a minimum frequency to satisfy the agent multiple-employer OPEB plan's financial reporting requirements.
The other standard, GASB 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, requires government employers to disclose OPEB in their financial statements.
Because of changes to accounting and reporting standards, state leaders are likely to focus more attention on contribution rates, prefunding retiree health benefits, or finding other ways to reduce their OPEB liabilities.
The issuance of these new OPEB standards culminates the second of two major initiatives to improve accounting and financial reporting for post-employment benefits.
The theoretical framework in which this paper is couched is the intersection between institutional effects and professional governance theory applied to pension and OPEB funding during periods of fiscal stress.
Statement 75 applies to governments that provide OPEB for their employees.
Bournival, owner of KMS Actuaries, warned that continuing to handle OPEB liabilities on a pay-as-you-go basis could eventually catch up with cities and towns as health insurance costs continue to rise.
75% for purposes of determining its pension and OPEB liability.
The total unfunded OPEB liability reported in state and the largest local governments' CAFRs exceeds $530 billion.
A panel discussion with representatives from three state league OPEB Trusts (South Carolina, Florida, and Virginia) centered on how each of the OPEB trusts was created, the governance structure of each trust, and the types of services that are offered to OPEB Trust members, such as investment management and custodial and legal services.
What follows is a summary of the accounting rules for the healthcare obligation, a simplified demonstration of how to interpret the information, and an analysis of an actual (Target Corporation) OPEB disclosure.