NCTR Directors Meeting GASB OPEB. June 22, 2007 Ed Macdonald. The GASB Statements. GASB 43 - Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. GASB 45 - Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
NCTR Directors MeetingGASB OPEB
June 22, 2007
By collecting contributions based on illustrative premium, the true incidence of cost is different, employers are “implicitly” subsidizing the retiree rate (true cost).
2006 OPEB Plan Findings
Average Pre-65 Retiree cost is $542.
Median Pre-65 Retiree cost is $520.
Average Post-65 Retiree cost is $286.
Median Post-65 Retiree cost is $296.
Average Normal Cost = 8.7% of payroll
Median Normal Cost = 7.4% of payroll
Average Unfunded Accrued Liabilities = 5.0% of payroll
Median Unfunded Accrued Liabilities = 3.6% of payroll
Average ARC = 13.5% of payroll
Median ARC = 11.3% of payroll
Sample Alternate Interest Rate Assumption Results
Plan Preservation Strategies