Spotlight on Public Pensions Continues in Washington
Berger, Barrie Tabin, Government Finance Review
At the suggestion of the Government Finance Officers Association, several national organizations came together in early 2012 to form a "pension funding task force" in Washington, DC. The goal of the task force is to issue guidelines for the prudent funding of state and local government retirement plans. (1) Task force members concluded that the new standards issued by the Governmental Accounting Standards Board, which eliminate both the requirement that governments provide an annual required contribution and the parameters within which an employer's ARC must be calculated, created a pressing need for widely recognized, standardized guidelines concerning what constitutes a sound funding plan for state and local government employers. (See the 'Accounting Angle" article in this issue of Government Finance Review for more information.)
The need for clear funding guidelines is magnified by the continued call by some in Congress for federal …
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Publication information: Article title: Spotlight on Public Pensions Continues in Washington. Contributors: Berger, Barrie Tabin - Author. Magazine title: Government Finance Review. Volume: 28. Issue: 6 Publication date: December 2012. Page number: 56+. © 1999 Government Finance Officers Association. COPYRIGHT 2012 Gale Group.
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