Pension And Other Postemployment Benefit Obligations |
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Why it Matters:
Adequate funding for pension and other postemployment benefits (retiree health, dental, vision, and life insurance benefits) assures employees and retirees that their pension and other postemployment benefits will be available and provides evidence that state government is fiscally sound. The following chart shows the funding gap between pension and other postemployment benefit obligations and assets set aside for those benefits.
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Source: Michigan CAFR, Annual Financial Statements for MSERS, MPSERS, MERS, DGRS and DPFRS & State Budget Office Analysis
Note: This chart begins with 2006, the first year accounting standards required separate disclosure of OPEB.
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