A Guide to Implementing GASB 45

WASHINGTON, Nov. 10 /PRNewswire-USNewswire/ -- A Guide to Implementing GASB 45, a new issue brief from the Center for State and Local Government Excellence, examines howNorth Carolina local governments are meeting their obligations to report their unfunded retiree health care obligations.

The issue brief, which is based on a survey of the 30 local governments in the state with annual revenues greater than $100 million, reports that:

    --  88 percent of the respondents have a multi-year contract with an
        actuarial service selected by the NC League of Municipalities and the NC
        Association of County Commissioners;
    --  the actuaries for all respondents applied a realistic discount rate;
    --  when they are unsure if their bond rating might be affected, local
        governments take the initiative to seek advice from bond-rating firms.

For a copy of the full brief visit http://tinyurl.com/aguide

About the Center for State and Local Government Excellence

The Center for State and Local Government Excellence helps state and local governments become knowledgeable and competitive employers so they can attract and retain a talented and committed workforce. The Center identifies best practices and conducts research on competitive employment practices, workforce development, pensions, retiree health security, and financial planning. The Center also brings state and local leaders together with respected researchers and features the latest demographic data on the aging workforce, research studies, and news on health care, recruitment, and succession planning on its website, www.slge.org.

SOURCE Center for State and Local Government Excellence

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Tags: ,HEA,MTC,POL,SVY,SCZ,issue-brief-retirees

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