The 2021 PEPRA compensation limits will be $128,059 for Social Security members and $153,671 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from […]Read More… from 2021 PEPRA compensation limits
The 2020 PEPRA compensation limits are $126,291 for Social Security members and $151,549 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from 1996 […]Read More… from 2020 PEPRA compensation limits
The 2019 PEPRA compensation limits are $124,180 for Social Security members and $149,016 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from 1996 […]Read More… from 2019 PEPRA compensation limits
Last week the Governmental Accounting Standards Board (GASB) released its long-awaited exposure draft of proposed Other Post-Employment Benefits (OPEB) accounting changes. Although there may be modifications before the rules are finalized, public employers should be aware of the potential consequences. Here’s our list of the top 5 items from the exposure draft: 1. Most of […]Read More… from Top 5 Take-Aways from the GASB OPEB Accounting Exposure Draft
“Every state and local government that offers defined-benefit pensions [should] formally adopt a funding policy…,” according to the Government Finance Officers Association (GFOA) best practice recommendations. Guidelines for Funding Defined Benefit Pensions (2013) (CORBA) SOA and GASB Provide Guidance Blue Ribbon Panel. Last month, a blue ribbon panel formed by the Society of Actuaries went […]Read More… from Public Pension Plan Funding Policy – The Time is Here
