Sentences with phrase «unfunded liabilities these plans»

Retirement benefits represent a large and growing cost for public school systems, as states and school districts struggle to pay down the large unfunded liabilities these plans have produced.

Not exact matches

So the unfunded liability — the money yet to be found to pay the plan's promises — is also $ 1 - billion.

If that happens, the subsidy Tier 2 members provide to older workers and retirees would end, and the unfunded liabilities of Illinois» pension plans would jump by billions.

He wants the money to go toward paying down the state's debt, especially the $ 74 billion unfunded liability from the state's teacher pension plan (CalSTRS).

This means that contributions include both the «normal cost» of pension liabilities accruing to current employees and the legacy costs of amortizing unfunded liabilities accrued previously (due to a variety of reasons, including the original pay - as - you go nature of most plans, as well as unfunded benefit enhancements over the years).

These gaps are likely to continue to widen as states and school districts attempt to pay down large unfunded liabilities in educators» defined benefit (DB) pension plans.

Within the next decade, nearly 40 percent of California teachers» total compensation will go toward paying down the pension plan's unfunded liabilities.

Given the above factors, the sharp stock market decline in 2008, and the subsequent increase in the unfunded liabilities of the teacher pension plans, we wrote the following:

The unfunded liabilities of these plans are in the billions.

of California teachers» total compensation will go toward paying down the pension plan's unfunded liabilities.

, the state teacher pensions plan has an unfunded liability of $ 74 billion.

What does it mean when a state pension plan has an «unfunded liability?»

Despite the fact that North Carolina already ranks near the bottom nationally in the generosity of its retiree health plan — better only than Georgia — Senate and House lawmakers met on Monday to mull over ways to address the plan's looming unfunded liability, with some options including a reduction and even elimination of the state's commitment to providing its workers with retiree health benefits.

Every state except Vermont has a balanced budget amendment, yet states have wracked up large unfunded liabilities for their pension and retiree health plans.

Pension plans today are expensive, but the bulk of the costs are going to pay down unfunded liabilities, not for actual benefits for teachers.

The new plan does not get rid of the existing unfunded liability, but the cash balance plan would ensure the state did not accrue any additional unfunded liabilities that would eat further into discretionary education budgets.

As I noted on Twitter, the $ 3.4 billion in back pay is equivalent to about 1 / 8th of the teacher pension plan's $ 24.9 billion unfunded liability.

Nevada does not report projections for future contributions required to fully amortize the system's total unfunded liabilities, information that would allow policymakers and employers to better plan their budgets in the short and longer terms.

Rising pension costs are a particular concern for school districts, whose dollars help prop up state retirement plans that often have substantial unfunded liabilities.

Maryland does not report projections for future contributions required to fully amortize the system's total unfunded liabilities, information that would allow policymakers and employers to better plan their budgets in the short and longer terms.

This means that if the plan earns its assumed rate of return of 7.75 percent and makes its full actuarially determined contribution payments, it would take the state 23 years to pay off its unfunded liabilities.

Debt costs: The majority of contributions into teacher pension plans today are not going toward retirement benefits for today's teachers; they're mainly going toward unfunded pension liabilities.

Virtually every teacher defined - benefit pension plan in the United States has experienced an increase in unfunded liabilities since the turn of the century, and in many states the increase has been substantial.

-- Lower interest rates lead to lower productivity — Lower interest rates lead to more risk taking — The big white elephant, aka the pension industry and unfunded liabilities in defined benefit retirement plans.

«A shared risk plan could also help taxpayers get out from under massive unfunded pension liabilities, such as the $ 6.5 billion liability at Canada Post alone.

Unfunded Benefit Liabilities - The amount by which the value of a defined benefit plan's promised pension benefits exceeds the plan's assets.

4022 (c) Benefit (for Single - Employer Plans only)- For a PBGC - trusteed single - employer plan, a benefit payable by PBGC to a participant on account of PBGC's recoveries of unfunded benefit liabilities.

Other firms will grandfather certain retirees and partners into the discontinued unfunded plan, which could ultimately become a substantial liability as people live longer into retirement, says former WolfBlock senior litigator H. Robert Fiebach, now a senior commercial litigator at Cozen O'Connor in Philadelphia.

6) To ensure that the Motor Vehicle Accident Claims Fund (Fund) is sustainable over the long term and able to meet its future financial obligations, the Financial Services Commission of Ontario should establish a strategy and timetable for eliminating the Fund's growing unfunded liability over a reasonable time period and seek government approval to implement this plan.