Other Post Employment Benefits Valuations and Consulting

We will understand your objectives, and you will understand the results of our work.

We provide OPEB actuarial services to states, counties, cities and public agencies. This work helps agencies understand the impact of GASB 45 and includes a comparison of their results to other agencies using our GASB 45 Database.

Our consulting services for OPEB plans include:

  • Second tier design or alternative plan design analysis and cost impact projections
  • Open and closed group projections, including Annual OPEB Cost (AOC) cost and cash flow/benefit payout projections
  • Analysis of defined benefit and defined contribution retiree healthcare plan designs
  • PEMHCA Minimum benefits for retirees
  • Prefunding analysis, cost projections and development of funding policy
  • Illustrate the financial statement impact of the new GASB Statements 74 and 75 accounting standards           GASB 74 Article   GASB 75 Article
  • Determine the impact of Implied Subsidy now required for PEMHCA (CalPERS) benefits Implied Subsidy Article

OPEB Valuations

We believe that there are two levels to a GASB 45 actuarial valuation. Bartel Associates will provide services at either level:

The first level is technical compliance with GASB 45. Some public employers may hire an actuary to assist only with technical compliance with GASB 45, limiting the scope of services to preparing a compliance-only valuation that provides all  required financial reporting and disclosure information.

The second level, a "full consulting valuation" goes beyond reporting and disclosure issues and assists the Agency with an understanding of GASB 45 and the new GASB 75, the actuarial methods and assumptions, the valuation results, the financial statement impact, funding policies and trust options, and a review of the plan design.

Full consulting valuation deliverables include:

  • Results presented in a face-to-face meeting using plain, easily understood language
  • Calculation of GASB 45 costs and liabilities
  • Our GASB 45 database shows financial comparisons with 400 other California plans
  • Review and analysis of funding alternatives
  • Preparation of all required draft financial statement reporting and disclosure information
  • Analysis of change in liabilities from previous valuation (gain/loss analysis)
  • Detailed demographic information on the plan and its members
  • Discussion of upcoming changes including GASB 75 that may impact OPEB financial results
  • Implied Subsidy included as required with detailed explanation and sample accounting entries
  • Optional Executive Summary or Board/Council presentation
  • Review and documentation of plan benefits per MOU’s, bargaining agreements, plan summaries, etc
  • Review of plan demographics and selection of actuarial methods and assumptions
  • Annual OPEB Cost (AOC) cost and benefit payout projections
  • Review and analysis of life insurance contracts

Contact Bartel Associates to benefit from our OPEB actuarial expertise.


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