Accounting

New Actuarial Standards Will Increase OPEB Liabilities for PEMHCA Benefits

GASB 45 Liabilities for retiree medical benefits from large community-rated plans like CalPERS to increase 3/31/2015 per new actuarial standards.

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GASB Announces Drafts of New OPEB Accounting Standards

New accounting standards requiring recognition of unfunded OPEB liabilities will be released as Exposure Drafts in June 2014.

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Bartel Associates to speak at WR IPMA-HR Conference in San Francisco

A session on "Pension and Health Care - Building a New Bridge to Retirement" will be presented by John Bartel, Mary Beth Redding and Deanna Van Valer on Thursday May 1st at the Western Region IPMA-HR conference in San Francisco.

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GASB Publishes Implementation Guides to New Pension Accounting Standards

Details on the new pension accounting standards, GASB Statements 67 and 68, have been published by the GASB.

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GASB Posts Deferred Inflows and Outflows of Resources Article

The GASB has written a very helpful article for understanding Deferred Inflows and Outflows of resources.

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Recent Presentations by Bartel Associates

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Pension Funding Guides by the Pension Funding Task Force - 8/12/13

Difference between pension amounts for Books (accounting), Bonds, and Budgets (cash contributions) plus a Guide to Pension Funding for Elected Officials from the Pension Funding Task Force.

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Public Plan Funding Policy Document Issued

This report discusses the public policy objectives of pension and OPEB funding and develops a model funding policy consistent with those objectives as well as with actuarial standards of practice. Appropriate plan funding is a major issue for retirement systems, with current funding levels relatively low and recognizing constraints on available resources. With the elimination of the ARC (Actuarial Required Contribution) under GASB Statement 68, which has been used by many plans as the "out of bounds marker" for funding, there is little guidance for setting contribution levels. “Actuarial Funding Policies and Practices for Public Pension and OPEB Plans and Level Cost Allocation Model” was adopted March 1, 2013 by the legislature-created California Actuarial Advisory Panel to advise actuaries and retirement boards both in California and across the U.S when setting funding policies. John Bartel is a member of the California Actuarial Advisory Panel. Please contact John or any of our actuaries to understand the model funding policies and how they might apply to your plan.

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