Regional Vice President of Sales The Retirement Plan Company
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Compass
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Rule Aims to Force Public Sector to Tally Future Health Spending
The Washington Post; subscription may be required Jan. 30, 2006
Excerpt: It will take two to three years for the full effects of GASB 45, as the rule is known, to play out. But officials say it could lead to reduced benefits for retirees. Governments that don't have a plan for fully funding their obligations could have their bonds downgraded, limiting their ability to borrow at favorable rates and costing taxpayers millions in additional interest payments for new schools, roads and other capital improvements.
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