Unfunded Liabilities - Moreno Valley
Unfunded Liabilities - Moreno Valley
Unfunded Liabilities - Moreno Valley
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<strong>Unfunded</strong> <strong>Liabilities</strong> – Retiree MedicalGASB 45 adopted by GASB in 2006- Requires an actuarial study to determine the unfundedliability for Other Post Employment Benefits (OPEB)- Requires funding the annual Actuarial Required Contribution(ARC) into a trust or record liability on the City’s balancesheetCity began funding the OPEB liability into aCalPERS trust in FY 2008/09City has:- 121 retirees currently covered by this benefit- 297 active staff members eligible if they retire from the City16
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