For most California public agencies funding Other Post-Employment Benefits (OPEB) through CERBT, there is a small difference between the 6/30/2017 assets originally reported and the final audited assets (Fiduciary Net Position, or FNP). Our clients have been asking what to do about it. Even the State of California has the same issue. We’ve discussed it […]Read More… from CERBT Audited vs. Reported Assets
The 2018 PEPRA compensation limits are $121,388 for Social Security members and $145,666 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 2018 PEPRA compensation limits
The IRS Notice 2017-64 just announced the 2018 retirement plan benefit limits, and there are many changes since 2017. What does it all mean for employer-sponsored retirement plans? Below is a table summarizing the primary benefit limits, followed by our analysis of the practical effects for both defined contribution (DC) and defined benefit (DB) plans. […]Read More… from What’s the Impact of 2018 IRS Retirement Plan Limits?
The IRS just announced the 2017 retirement plan benefit limits, and there are some notable changes from 2016. What does it all mean for employer-sponsored retirement plans? Here is a table summarizing the primary benefit limits, followed by our analysis of the practical effects for both defined contribution (DC) and defined benefit (DB) plans. Qualified […]Read More… from What’s the Impact of 2017 IRS Retirement Plan Limits?
A thoughtful pension funding policy provides the best way for public sector employers to keep their pension promises. The funding policy provides discipline to address unfunded pension liabilities, while respecting the many current demands for budget dollars. The League of Arizona Cities and Towns recently sponsored a study by a special Task Force to identify […]Read More… from Developing a thoughtful public pension funding policy
Federal, state and local regulations often include mandated health benefits for officers disabled in the line of duty. These benefits are a way to reward officers for protecting and serving the public at great risk of bodily harm. The value of these benefits must be accounted for under GASB accounting rules, and there are a […]Read More… from Public Safety Benefits Can Significantly Affect OPEB Liabilities
We all knew this day would come, and now it’s here. New applications for the Early Retiree Reinsurance Program (ERRP) will be received only until 5 pm on Thursday, May 5th. The last time we blogged about this, the ERRP money was going fast. Now the urgency is clear. So if you’ve been thinking about […]Read More… from It’s now or never for ERRP application
For a while now, we’ve been sharing knowledge around the office with “what I learned today” emails. Now we’re going to start sharing it with the rest of the world. Off we go… […]Read More… from What I learned today
