GFOA of the US & Canada

Pensions and Benefits Articles

Articles from the Government Finance Review

• February 2008

• OPEB in Perspective: GASB Statement No. 45 Four Years Later

  (3.4K PDF) 

  Other postemployment benefits have been a thorn in the side of many governments since the overnmental Accounting Standards Board issued Statement No. 45; now is the time to make some of the tough decisions.

  Stephen J. Gauthier

• August 2006
• Coming to Grips with Other Post-Employment Benefits

  (PDF)

  The challenge of funding OPEB provides government finance officers with an unparalleled opportunity to assume financial leadership as governments weigh their options and craft a strategy to respond to the challenge.

  Jeff Esser, GFOA Executive Director

• June 2006
• Dispelling OPEB "Urban Legends"
  (PDF)

  Recently, it has become apparent that there are a number of common misconceptions about what GASB Statement No. 45 does and does not require. To avoid potential misunderstandings, this article underscores five important facts about GASB Statement No. 45.

  Stephen J. Gauthier

• December 2005

• Funding OPEB Liabilities: What Are Your Options?

  (2.8M PDF)
  As governments prepare to implement the new GASB requirements on accounting and financial reporting for other postemployment benefits, some will face significant liabilities. This article presents several strategies for managing OPEB costs, from advance funding to OPEB obligation bonds to changes in the actual benefits plan.
  Parry Young

• June 2003

• Risky Business? Evaluating the Use of Pension Obligation Bonds

  (PDF)
  While the prospect of reducing operating budget contributions to pension funds through borrowing continues to entice governments,the fact remains that pension bonds are a form of financial risk arbitrage whose use demands caution.
  James B.Burnham