Sentences with phrase «unfunded liability costs»

Not exact matches

The Sydney Morning Herald reported that the Commission «launched a scathing attack on Australia's latest series of free trade agreements, saying they grant legal rights to foreign investors not available to Australians, expose the government to potentially large unfunded liabilities, and add extra costs on businesses attempting to comply with them».

On one page headlined, «Protecting your wallet,» Mangano says he cut wasteful spending and «strengthened finances» — even though the county comptroller estimated this year that Nassau's total unfunded liabilities, including unpaid tax refunds and pension costs, total more than $ 900 million.

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).

As of 2009, the Los Angeles Unified School District, a shrinking district, had an unfunded actuarial accrued liability of $ 10.3 billion for employees» future post-employment health - care costs, more than 200 percent of the active payroll.

Restructure true fixed costs: unfunded liabilities.

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.

The massive unfunded liabilities of teacher pension funds virtually guarantee that these costs will continue to increase for public schools.

Unfunded liabilities do not arise so readily, and legislatures have less opportunity to enhance benefits by shifting costs to future generations of taxpayers and teachers.

As Governor Malloy sits on top of one of the largest unfunded state and teacher pension systems in the country, an unfunded liability that will cost Connecticut taxpayers more than $ 20 billion to resolve over the next two decades, leave it to back room politics of the Malloy administration to wheel and deal a way for Steven Adamowski to boost his pension at taxpayer expense.

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

Modifications to how retirement costs are managed, particularly funding the unfunded liability outside of the base cost per student.

Carrying an unfunded liability, or pension debt, of any size increases the cost of retirement benefits, because in addition to paying for the benefits teachers earn each year, employers are charged a premium on each employee to help pay off the accumulated pension debt, Mr. McGee said.

Districts face bona fide legacy costs (e.g., building maintenance, debt service, transportation, unfunded pension liabilities, and inflexible teacher contracts) that make it costly and painful to right size.

A review of their pension costs and growth of their unfunded liabilities over the past decade indicates the word «growing» is an understatement.

Atlanta Public Schools Chief Financial Officer Lisa Bracken said the school district has higher costs for several reasons: The expense of city living drives up teacher pay; the district has «low population» schools that lack economies of scale but are kept open «due to urban traffic constraints and community needs;» many students need extra services because they have learning problems or disabilities, don't speak English fluently or come from poverty; and the district has a large unfunded pension liability with growing obligations.

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

However, if TRS's unfunded liabilities do continue to increase, as recent pension - fund history would indicate, retirement costs will crowd out funds for downstate and suburban classroom spending even further.

With unfunded liabilities under control, the state would no longer be subject to runaway retirement costs, allowing both the state and local school districts to create more stable budgets.

The rate is set by law and is equivalent to the normal cost plus amortization payments, which must reduce the unfunded liability to zero by June 30, 2040.

Even assuming that TRS's unfunded liability doesn't grow progressively worse as it has in years past, retirement costs will consistently make up more than 50 percent of all education spending through 2045.

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.

The third change is a cost - saving reform that shortens the payment period for new debt or «unfunded liability» from 30 to 20 years.

The proposal would entail that an average premium rate for each class would be set based on the collective liability of new claims costs of employers in that class, past unfunded claim costs for the class and administrative costs of the system.

Letter to the Premier, in light of KPMG recommendations which seem aimed at transferring the cost off employers, reminds him of promise not to deal with unfunded liability on the backs of injured workers.

«Ontario psychologists claim WSIB unfairly denying patient claims» / (CBC Toronto News, 4 Nov.) A group of Ontario psychologists warn that, in order to reduce the Board's costs and the unfunded liability, the WSIB is ignoring their recommendations for treatment and getting other doctors to overrule their professional opinions about their patients» fitness to return to work.

Misled by fears of an unfunded liability, the NDP government which followed began cutting cost of living adjustments under the Friedland formula (Bill 165) though did increase pension supplements for unemployed injured workers.

The analysis of the Appeals Tribunal 2016 decisions adds to the growing documentation on how cost - cutting measures, adopted in the WSIB's «transformation» to eliminate an unfunded liability, are further harming injured workers» health and financial recovery.

Pew's evidence - based research has helped Kentucky develop policies for cutting corrections and juvenile justice costs and recidivism, reducing the state's unfunded pension liabilities, and supporting an innovative home visiting program.