TOPIC: Asset or Liability to Bond Analysis? 10 Years of Pension Information in Financial Statements

Date: Thursday, September 19, 2024

Time: 3:00 - 4:30 pm

Location: Zoom only

Description:

Fiscal years ending June 30, 2024, mark the start of the tenth year that governments have been reporting their employee pensions under GASB Statement 68 (and seven years for OPEB). Most notably, Statement 68 moved the pension liability to the face of the financial statements for all types of pensions plans (including cost-sharing), improved the comparability of liability amounts by narrowing the allowable methods and assumptions, and added extensive note disclosures and 10-year schedules. This session will examine the impact that Statement 68-compliant information has had on municipal bond analysis, including what has been valuable and what has not, and reflect in general on how our decision making and analytical procedures incorporate major new information.

Speakers:

Matt Harvey, Investment Professional, State Farm Mutual Insurance Co.

Todd Kanaster, Director, Municipal Pensions, S&P Global

Todd Tauzer, National Public Sector Retirement Practice Leader, Segal

Moderator:

Dean Mead, Partner and Government & Public Sector Sub-Line Leader, Carr, Riggs & Ingram, LLC

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