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Unlike traditional pensions, though, approximately 2/3 of the liabilities for "Other postemployment benefits" are at the local level. Large, progressive cities also face huge OPEB liabilities. For instance, New York City has an OPEB liability valued at $85.5 billion in the long term and costs the city $3 billion annually. [11]
GASB 45, or GASB Statement 45, is an accounting and financial reporting provision requiring government employers to measure and report the liabilities associated with (other than pension) postemployment benefits (or OPEB). Reported OPEBs may include post-retirement medical, pharmacy, dental, vision, life, long-term disability and long-term care ...
Items Previously Reported as Assets and Liabilities March 2012 Amended by GASBS 86 and 87; Partially superseded by GASBS 87; 66. Technical Corrections—2012—an amendment of GASB Statements No. 10 and No. 62 March 2012 Amended by GASBS 87; Partially superseded by GASBS 87; 67. Financial Reporting for Pension Plans—an amendment of GASB ...
What is an example of assets, liabilities and equity? An asset adds value to your business, whether cash, equipment, accounts receivable or something else to which you can attribute a dollar ...
The amount of the liability depends on your taxable income. It’s critical for all taxpayers to understand what a tax liability is and how it affects one’s overall finances.
Everything to know about the college football schedule for bowl games on New Year's Day. Times, TV and streaming, odds and more. Check it out.
The California Employers’ Retiree Benefit Trust Fund was established by CalPERS in March 2007 to provide California public agencies with a cost-efficient, professionally managed investment vehicle for prefunding other post-employment benefits (OPEB) such as retiree health benefits. Prefunding reduces an agency's long-term OPEB liability.
The illegal Guatemalan migrant charged with torching a sleeping straphanger to death on a Brooklyn subway train was a heavy drinker who chain-smoked K2, pals at the homeless shelter where he was ...