GASB 45 requires a complete actuarial valuation of public retiree health plans to be completed every 2 to 3 years (depending on number of plan members), and sponsors usually don’t look forward to the administrative hassles of their next study. However, there are several situations where a new …
Public plans
Public Safety Benefits Can Significantly Affect OPEB Liabilities
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 …
OPEB Participation Rates – “Kind of a Grey Area” Under Healthcare Reform
One of the highest impact assumptions in OPEB actuarial valuations is the participation rate. This rate represents the percent of future retirees assumed to participate in the employer’s health plan during retirement. The participation assumption has a direct and leveraged effect on OPEB …