Independent Actuaries Blog Category: Public Plans

IRS Announces Retirement Plan Limits for 2018

The IRS has announced the new retirement plan limits for 2018. Some limits increased from 2017 to 2018, and some stayed flat. Highlights include: The compensation limit used to determine benefits and contributions for both defined benefit and defined contribution … Continue reading

How Do You Balance a Budget?

  Q: How do you balance a budget? A (from Congress): Reduce future pension plan contributions. Once again pension contributions are connected to budget deals in Washington, DC. The Bipartisan Budget Act of 2015 (BBA 2015) extends the interest rate … Continue reading

Big Changes Ahead for Governmental Employers

Earlier this summer the Governmental Accounting Standards Board (GASB) announced their approval of three new statements pertaining to the accounting for retirement benefits: Statements 73, 74 and 75. Statement 73 pertains to pension benefits, and is basically an enhancement of … Continue reading

Good News for Oregon Taxpayers from PERS

At its July 30th meeting, the Oregon PERS Board voted to lower the rate of return assumed to be earned on its investments in future years from 7.75% to 7.50%. Not long ago the assumed rate was 8.0%. Except for … Continue reading

New Retirement Benefit Obligation Impacting Oregon Public Employers

Recent changes in actuarial standards are going to result in significant new benefit obligations for hundreds of Oregon public employers, beginning with 2016 fiscal year end reporting. Known as an “implicit rate subsidy”, this is a benefit that all Oregon … Continue reading

IRS Announces Pension Plan Limits for 2013

2013 is around the corner, and that means updated pension plan limitations. Last week, the IRS announced the 2013 limits, many of which will increase in 2013 due to the increase in the cost of living index. Some of the … Continue reading

Oregon HB 3605: Good Intentions, Bad Consequences

Generational inequity has been and will continue to be an issue tied to public retirement benefit plans (as it is with Social Security, Medicare, and other tax funded programs). It’s not fair for one generation of workers to promise themselves … Continue reading