ASC 712 COMPENSATION— NONRETIREMENT POST‐EMPLOYMENT BENEFITS

2021 ◽  
pp. 695-696
Keyword(s):  
Employment Benefits

Unfunded Public Employee Health Care Benefits and GASB No. 45

2007 ◽  
Vol 21 (3) ◽  
pp. 245-263 ◽  
Author(s):  
Elizabeth K. Keating ◽  
Eric S. Berman
Keyword(s):  
Health Care ◽  
Financial Reporting ◽  
Full Range ◽  
Financial Reports ◽  
Employment Benefits ◽  
Care Plans ◽  
Advantages And Disadvantages ◽  
Government Accounting ◽  
The Government ◽  
The Impact

The Government Accounting Standards Board (GASB) recently released Statement No. 45, Accounting and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions and its companion Statement No. 43 for pooled stand-alone health care plans, which will profoundly affect American governmental finance. The goal of this article is to encourage governments to consider carefully a full range of options in funding and restructuring other post-employment benefits (OPEB). This article will review Statement No. 45's potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The article will discuss the statement's impact on budgets and governmental operations, including collective bargaining. Funding options under Statement No. 45 will be detailed, including the advantages and disadvantages of irrevocable trusts and OPEB bonds. The article will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. As the largest government entities are just now implementing GASB Statement No. 45, estimates of the magnitude of unfunded OPEB liabilities are limited as are the strategies likely to be adopted to cover these obligations. This article offers a summary of the unfunded OPEB liabilities reported by states and major cities and suggests some measures for assessing the ability of these entities to address these costs.

scholarly journals The Effects of US State-Level Energy and Environmental Policies on Clean Tech Innovation and Employment

2016 ◽  
Vol 6 (2) ◽  
pp. 1 ◽  
Author(s):  
Ross Gittell ◽  
Josh Stillwagon
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
State Level ◽  
Environmental Policies ◽  
Environmental Benefits ◽  
Level Energy ◽  
Negative Effects ◽  
Employment Benefits ◽  
Technology Industry ◽  
Change Policy

<p>This paper explores the influence of US state-level policies meant to address climate change on clean technology industry development. The largest influence of climate change policies is identified as being on energy research employment. Only some policies seem to contribute positively to clean tech employment while other policies appear to discourage employment growth. The magnitudes of the short term effects, even when statistically significant, are modest. Negative impacts on employment are identified for several mandate-oriented, so called command and control, policies including vehicle greenhouse gas standards, energy efficiency resource standards, and renewable portfolio standards with the former two having increasing negative effects over time. The findings suggest that climate change policy advocates should be careful to not assume that there will be positive clean tech employment benefits from state-level energy and environmental policies. Instead, the benefits from these policies may derive primarily from other considerations beyond the scope of this paper, including health and environmental benefits and reduction of dependence on foreign energy sources.</p>

Multiplier Effects and Local Economic Impact

2012 ◽  
pp. 320-334 ◽  
Author(s):  
Peter Von Allmen
Keyword(s):  
Economic Growth ◽  
Economic Impact ◽  
Local Economy ◽  
Full Time ◽  
Tax Rates ◽  
Role Of Government ◽  
Employment Benefits ◽  
Sports Team ◽  
Multiplier Effects ◽  
Full Time Employment

This article investigates the multiplier model in the context of the local impact of expenditures on sports infrastructure. There are two fundamental reasons for the lack of empirical evidence of large multiplier effects: inflated estimates of the direct effects, or the “base” increase in spending; and leakage from the local economy that diminishes the multiplier. The appropriate base expenditure of hosting a team in a city is the net new spending on local incomes and businesses plus local taxes paid. The effect of tax rates on the multiplier is less ambiguous. The full-time employment benefits are small, as the ratio of part-time to full-time employment is roughly ten to one. The role of government in stimulating economic growth has always been the subject of debate in macroeconomics. Local economic impact studies argue that stadium projects and playing host to a professional sports team are legitimate engines of economic growth.

Pension Reforms and Public Sector Turnover

2019 ◽  
Vol 30 (1) ◽  
pp. 96-112 ◽  
Author(s):  
Evgenia Gorina ◽  
Trang Hoang
Keyword(s):  
Public Sector ◽  
State Level ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Retirement Benefits ◽  
Employment Benefits ◽  
Pension Reforms ◽  
Defined Contribution Plans ◽  
Retirement Systems ◽  
State Pension

Abstract Over the past decade, many states have reformed their retirement systems by reducing benefit generosity, tightening retirement provisions, introducing non-defined-benefit (DB) plan options and even replacing DB plans with defined-contribution plans. Many of these reforms have affected post-employment benefits that public workers will receive when they retire. Have these reforms also affected the attractiveness of public sector employment? To answer this question, we use state-level data from 2002 to 2015 and examine the relationship between state pension reforms and public employee turnover following the reforms. We find that employee responsiveness to the reforms was tangible and that it differed by reform type and worker education. These results are important because the design of public retirement benefits will continue to influence the ability of the public sector to recruit and retain high-quality workforce.

Sign in / Sign up

Export Citation Format

Share Document