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Article: STATE HEALTH BENEFITS COMMISSION RECEIVES ACTUARIAL REPORT ON RETIREE HEALTH CARE LIABILITY
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 26, 2007
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The New Jersey Department of the Treasury issued the following news release:
The State Health Benefits Commission today received an actuarial valuation of New Jersey's Other Post Employment Benefit (OPEB) liability as required under national accounting rules adopted by the Government Accounting Standards Board.
Under the rules (GASB Rule Nos. 43 and 45), public employers are required to disclose their estimated long-term obligations every two years. The rules do not change any employer funding obligations for retiree health benefits or the method of funding those obligations.
The actuarial report prepared by Aon Consulting and presented to the Commission today, estimated New Jersey's health ...