Accounting standards require governments to accoun

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State and Local Government Retiree Health Benefits: Liabilities are Largely Unfunded, but Some Governments are Taking Action

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By John E. Dicken (au); Barbara D. Bovbjerg (au)
Year: 2009
Pages: 49
Binding Paperback

Product Code: 1437927378

Description

Accounting standards require governments to account for the costs of other post-employment benefits (OPEB) -- the largest of which is typically retiree health benefits -- when an employee earns the benefit. As state and local governments have historically not funded retiree health benefits when the benefits are earned, much of their OPEB liability may be unfunded. This report provides info. on governments' retiree health liabilities. It describes: (1) what has been reported in state and local governments' comprehensive annual financial reports regarding OPEB liabilities; (2) actions state and local governments have taken to address retiree health liabilities; and (3) the overall fiscal pressures these governments face. Charts and tables.

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