More states set aside assets to prefund OPEB benefits
Thirty-three states hold approximately $33 billion in OPEB assets as of FY13 according to a new report from NASRA and the Center for State & Local Government Excellence. This figure is up from 18 states reported for the period FY09-FY11. (Spotlight, December 2014)
Among the largest 126 public retirement plans, more than one-half have reduced their investment return assumption since fiscal year 2008. The average return assumption is 7.75%. (Issue Brief, Oct. 2014)
Since 2009, 36 states have increased required employee contribution rates. (Issue Brief, Jan. 2014)
Public Fund Survey More than 85 percent of all state and local government pension assets and members in the U.S. are represented in the Public Fund Survey. Survey data is taken primarily from retirement system annual financial reports, and also comes from actuarial valuations, benefits guides, and interviews with retirement system staff members. It is intended to promote sound public retirement system policies and administration by increasing transparency and understanding of the public retirement system community. Public Fund Survey is a joint venture of NASRA and the National Council on Teacher Retirement. The database requires separate login; the Summary of Findings is available here.Roll Call Capturing notable events and developments in public retirement systems from reports since 2005, Roll Call is a perennial highlight of the annual conference. Members can view the most recent report as well as see previous years; login and then access it here.
Updated Brief on Other Post-Employement Benefits (OPEB) OPEB offerings and liabilities greatly range among state and local governments, and while states' unfunded OPEB liabilities remained relatively unchanged when compared to 2013 data, more states are setting aside assets to pre-fund OPEB. Read the full brief.