Public Plans - General

Status of Public Sector Defined Contribution Plans


Minimum 2015 Health Benefit Announced 04/07/14 by CalPERS (PEMHCA)

CalPERS Announces PEMHCA Minimum Contribution for 2015.


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.


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.


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.


NEWS RELEASE 03/11/13 by CalPERS

CalPERS Announces PEMHCA Minimum Contribution for 2014.


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.


New Report by the Pew Charitable Trusts

A new report by the Pew Charitable Trusts, “A Widening Gap in Cities: Shortfalls in Funding for Pensions and Retiree Health Care” found a funding shortfall of $217 billion for 61 of the nation’s largest cities in 2009. Of this, $118 billion was for retiree healthcare (“OPEB”) benefits. The report examines plans of the largest city in each state, plus other very large cities. In all, over 45% of U.S. municipal employees are covered by the surveyed plans.



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