OPEBOther Post-Employment Benefits
OPEBOkinawa Prefectural Enterprise Bureau (Japan)
OPEBOther Postretirement Obligations (pensions/retirement)
OPEBOrdinary Potential Energy Box (surface geometry)
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References in periodicals archive ?
Statement 74 applies to plans that manage OPEB benefits for governments, and that statement applies for fiscal years beginning after June 15, 2016.
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.
In New York, the pension shortfall is $14,302 per household, while the OPEB shortfall is $22,857.
Combined, the amount of assets that S&P 500 companies set aside to fund pensions and OPEB was $1.38 trillion, covering $1.96 trillion in obligations, with the resulting underfunding equating to $578 billion, or a 70.5% overall funding rate.
According to the company, there is no impact on cash flow or pension funding requirements as a result of this change and there is no change to Verizon's pension or 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.
If the company overfunds the liability, an asset or prepaid OPEB is recorded.
This suggests that companies' obligations to their retirees exceed the assets of their defined-benefit plans, and the underfunded pension and OPEB plans have been keeping the off-balance-sheet.
Few companies set aside much cash to fund retiree health benefits, and "OPEB calculations" are extremely sensitive to actuarial assumptions and actuarial projection methods, Petertil and Reese write.
Like private employers, state and municipal governments will need to make arrangements to set aside funds for the OPEB benefits they have promised to employees.