Navigation Links
How State and Local Governments Are Funding Retiree Health Obligations
Date:9/10/2009

New brief from the Center for State and Local Government Excellence

WASHINGTON, Sept. 10 /PRNewswire-USNewswire/ -- A new issue brief from the Center for State and Local Government Excellence takes a hard look at the options state and local governments are pursuing to reduce their unfunded liabilities for retiree health care.

The brief, Prefunding Other Post Employment Benefits (OPEB) in State and Local Governments: Options and Early Evidence, cites examples of how governments are addressing their OPEB obligations:

  • West Virginia, which has established a trust fund, also made changes in its health care benefit plan for retirees, and most recently, eliminated retiree health care subsidies for all employees hired after July 1, 2010.
  • Montgomery County, Maryland, which developed a multi-year plan to arrive at full funding, including the establishment of a Section 115 trust and an independent board to manage the trust and its investment policies.
  • Oakland County, Michigan, which began prefunding retiree health care liabilities in 1987 and more recently has issued OPEB bonds to help fund the County's Section 501(c)(9) Voluntary Employees' Beneficiary Association (VEBA).
  • Gainesville, Florida, a city with a consistent history of paying in excess of its annual required contribution and that may be the first local government to complete its prefunding obligations through the sale of OPEB bonds in 2005.

Governments know that their retirement benefits have helped them attract and retain the talent they need. Most governments continue to fund their retiree health benefits on a "pay-as-you-go" basis even as they assess strategies to deal with escalating costs.

Read the full brief at http://tinyurl.com/prefundingOPEB.

About the Center for State and Local Government Excellence

The Center for State and Local Government Excellence helps state and local governments become knowledgeable and competitive employers so they can attract and retain a talented and committed workforce. The Center identifies best practices and conducts research on competitive employment practices, workforce development, pensions, retiree health security, and financial planning. The Center also brings state and local leaders together with respected researchers and features the latest demographic data on the aging workforce, research studies, and news on health care, recruitment, and succession planning on its Web site, www.slge.org.


'/>"/>
SOURCE Center for State and Local Government Excellence
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. AHIP Statement on President Obamas Address to the Nation
2. Statement on WellPoints Re-Entry into Medicare Market
3. Longevinex(R) Files Lawsuit Against ResveratrolBenefits.com, for False and Misleading Statements
4. JNCI news brief: STD confirmed to be associated with increased risk of prostate cancer
5. Link found between common sexual infection and risk of aggressive prostate cancer
6. NGA Chair, Vermont Governor Douglas to Speak on States Role in Health Care Reform at the National Press Club on September 17
7. Getting Closer to the Origins of Prostate Cancer
8. New type of adult stem cells found in the prostate may be involved in prostate cancer development
9. Investors From 24 States Will Visit Madison for 09 MidAmerica Healthcare Venture Forum
10. Dr. Smith Comes to Washington: Angry Physicians From All 50 States Rally in DC on Sept. 10
11. Survey Shows At-Risk Men Lacking In Prostate Cancer Knowledge
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... On Friday, ... presented a Bronze Wellness at Work award to iHire in recognition of their exemplary ... part of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI ...
(Date:6/24/2016)... ... ... June 19, 2016 is World Sickle Cell Observance Day. In an effort ... holistic treatments, Serenity Recovery Center of Marne, Michigan, has issued a pain ... Disease (SCD) is a disorder of the red blood cells, which can cause episodes ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. ... accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, ... and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its first-ever ... Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding work ... Practice and Pediatric Emergency Medicine Practice. , “With this award, we recognize ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... NAMUR , Belgium , ...  (NYSE MKT: VNRX), today announced the appointment of ... Board of Directors as a Non-Executive Director, effective ... the Company,s Audit, Compensation and Nominations and Governance ... Board, Dr. Futcher will provide independent expertise and ...
(Date:6/23/2016)... Research and Markets has announced ... Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality ... - Global Forecast to 2021" report to their ... global pharmaceutical excipients market is projected to reach USD ... in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... 2016 Research and Markets has announced ... report to their offering. ... a favourable commercial environment for MedImmune to enter. The US ... will serve to drive considerable growth for effective anti-influenza medications. ... cap sales considerably, but development is still in its infancy. ...
Breaking Medicine Technology: