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:1/24/2017)... ... January 24, 2017 , ... His message has been ... of the organization End Distracted Driving , Joel Feldman, has reached his biggest ... was featured in one of the top newspapers in circulation in the country, and ...
(Date:1/24/2017)... ... January 24, 2017 , ... The University of Iowa, ... great care to design a program that provides teachers with the specific skills and ... online teaching certificate is ideal for post-baccalaureate students and HigherEducation.com is working to ensure ...
(Date:1/24/2017)... ... January 24, 2017 , ... American Family Care (AFC) ... access to high-quality health care for residents in the area. The Bedford clinic will ... during the past four years by Dave Adams and Dr. Kristina Orio. Adams and ...
(Date:1/24/2017)... ... January 24, 2017 , ... ... topics like finances, friendship, marriage, leadership, gossip, prostitution, adultery, anger, and common sense. ... authors, Dr. Judith Coats and Dr. David Coats. In September of 1983, they ...
(Date:1/24/2017)... (PRWEB) , ... January 24, ... ... healthcare and clinical research networking-technology company founded by patient survivors, today announced ... BlueCloud® business model, networking technologies and patient-inspired initiatives. , Like HCP ...
Breaking Medicine News(10 mins):
(Date:1/24/2017)... The Society for Non OR Intervention and Anesthesia ( ... Safety ( PPAHS ) are pleased to announce their ... for patients undergoing procedures outside of the Operating Room. ... Michael Wong JD, Executive Director of PPAHS have each ... Boards. SONORIA is an integrated group of ...
(Date:1/24/2017)... New York , January 24, 2017 ... three players held a whopping share of 91.6% in ... Technology, IMA Pharma, and Qualipcaps have been leading the ... leaders boast an experience and expertise in handling sophisticated ... companies are expected to focus on research and development ...
(Date:1/24/2017)...   QR Pharma , Inc., a privately ... for the treatment of Alzheimer,s, Parkinson,s and other ... world-class key opinion leaders to its Scientific Advisory ... previous roster of impressive advisors in order to ... development of the breakthrough mechanism of action of ...
Breaking Medicine Technology: