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Facing the Challenge of Retiree Health Care: Liabilities and Responses of State and Local Governments

Presented by the Civic Federation and the Federal Reserve Bank

Wednesday, March 12, 2008 - 1:00pm to 5:00pm

Federal Reserve Bank of Chicago 230 S. LaSalle Street, 3rd Floor Conference Center Chicago, IL

The Civic Federation, in partnership with the Federal Reserve Bank of Chicago, presented a forum on March 12, 2008 to discuss retiree health care for state and local government employees. Many governments will begin reporting liabilities for Other Post Employment Benefits (OPEB) in their fiscal year 2008 financial statements. The forum considered the anticipated scope of those liabilities, legal issues, funding challenges, and responses from early implementers of GASB 43 and 45.

Featured speakers for the three panels included Dean Michael Mead, Governmental Accounting Standards Board; Barbara Bovbjerg, U.S. Government Accountability Office; Bert Nuehring, Crowe Chizek and Company LLC; Karen Carraher, Ohio Public Employees Retirement System; Robert J. Daddow, Oakland County, MI; Herb Bergson, Former Mayor of Duluth, MN; Pedro Martinez, Chicago Public Schools; Brian Caputo, City of Aurora; and Mary Ann Boyle, Metropolitan Water Reclamation District of Greater Chicago. Lise Valentine of the Civic Federation, Rick Mattoon of the Federal Reserve Bank of Chicago, and Richard Ciccarone of McDonnell Investment Management LLC served as moderators.

Vice President and Director of Regional Programs for the Federal Reserve Bank of Chicago William Testa welcomes the attendees

Civic Federation President Laurence Msall introduces the first panel on OPEB Reporting (L to R) Bert Nuehring of Crowe Chizek, Barbara Bovbjerg of the U.S. Government Accountability Office, Dean Michael Mead of the Governmental Accounting Standards Board, Moderator Lise Valentine of The Civic Federation, and Laurence Msall

Former Duluth Mayor Herb Bergson gives his presentation as part of the second panel featuring early OPEB implementers from neighboring states (L to R) Robert J. Daddow of Oakland County, MI, Karen Carraher of the Ohio Public Employees Retirement System, Moderator Rick Mattoon of the Federal Reserve Bank of Chicago, and Herb Bergson

Panel member Mary Ann Boyle of the MWRD speaks about creating an OPEB trust during the third panel (L to R) Brian Caputo of the City of Aurora, Pedro Martinez of Chicago Public Schools, Moderator Richard Ciccarone of McDonnell Investment Managment, and Mary Ann Boyle

Civic Federation member Bert Nuehring of Crowe Chizek provides the auditor's perspective on OPEB

Civic Federation member Richard Ciccarone of McDonnell Investment Management introduces the third panel

Robert J. Daddow, Deputy County Executive, Oakland County, MI

OPEB Forum attendees