Communicating Health-Care Benefits to Employees and Retirees
Governments should develop effective communication strategies that support their health-care benefit goals.
Sustainable Pension Benefit Tiers
Jurisdictions considering new benefit tiers should examine the following issues: A governments authority to revise its pension benefits, the overall goals it wants to accomplish by doing so, and the effect of such changes on the workforce; and the financial impacts resulting from changes to pension plan design, as well as the effects on employees.
Developing a Policy to Participate in Securities Litigation Class Actions
Every Public Pension Plan should develop and adopt a policy setting forth procedures for monitoring and participating in class action securities litigation.
Developing a Policy for Retirement Plan Design Options
State and local governments should have a policy statement that will guide their on-going plan design decisions.
OPEB Governance and Administration
Sponsoring governments should establish a clear, well-documented governance structure to guide governing bodies and plan administrators.
Governance of Public Employee Postretirement Benefits Systems
A state or local government or other designated governing entity should establish rules of governance for its postretirement benefit systems that define the key elements necessary for trustees and other fiduciaries to fulfill their responsibilities, in accordance with fiduciary standards.
Preparing an Effective Summary Plan Description
All state and local government pension plans should prepare an SPD that completely, accurately, and clearly describes the significant components of the pension plan for participants.
Educating Employees about the Adequacy of Retirement Benefits
Government employers and plan administrators should educate employees about retirement income and include the following considerations when preparing the education program.
Selecting Third-Party Investment Professionals for Pension Fund Assets
Governments should exercise appropriate due diligence in their selection of investment professionals.
The Use of Early Retirement Incentives
State and local governments should not use ERIs for a variety of reasons.
Deferred Retirement Option Plans
Government defined benefit plans should not include deferred retirement option programs for a variety of reasons.
In-Kind Asset Transfer to Defined Benefit Pension Plans
GFOA Advisories identify specific policies and procedures necessary to minimize a government’s exposure to potential loss in connection with its financial management activities. It is not to be interpreted as GFOA sanctioning the underlying activity that gives rise to the exposure.