Unaccountable and Unaffordable, 7th Edition
Unfunded state pension liabilities total $6.96 trillion or just under $21,000 for every man, woman, and child in the United…
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State Debt Series
Other Post-Employment Benefit Liabilities, 6th Edition
Other Post-Employment Liabilities, 6th Edition measures unfunded OPEB liabilities, now totaling over $1.14 trillion, just under $3,500 for every man, woman, and child in the United States.
Other post-employment benefits (OPEB), also known as the “trillion-dollar acronym,” covers all the benefits a retired public employee is eligible to receive in retirement that are not a pension. These benefits include health insurance, life insurance, Medicare Supplement Insurance, and other benefits.State OPEB plans face many of the same problems as public sector pension plans.
Without real reforms, defined benefit OPEB plans will place a severe burden on taxpayers. By offering a range of defined contribution options as well as implicit subsidies by pooling retirees together with active employees, states can keep the promises made to both public employees and taxpayers.
More Publications in this Series
State Bonded Obligations, 4th Edition
State governments borrow for a myriad of reasons and issue various types of bonded obligations. Today, their total bonded liabilities…
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Other Post-Employment Benefit Liabilities, 5th Edition
Unfunded state Other Post-Employment Benefit liabilities total $959 billion or $3,000 for every man, woman and child in the United States.
Read MoreRelated Model Policies
Section A: Addition to current statutes governing state agency duties [Bracketed portions may be adjusted for the needs of each state] Nongovernmental agreements…
(1) Definitions (a) The term “defined benefit pension plan” or “plan” shall mean any plan, fund or program which was heretofore or…
Stability – Government pensions should be secure and safe from high risk assumptions. State and local governments should eliminate incentives to underfund pension commitments,…