Results 651 to 660 of 974
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05-31-2013, 08:58 PM #651
Re: Ask the PBA
what were the previous rates?
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06-02-2013, 02:22 PM #652
Re: Ask the PBA
Originally Posted by Matt Puckett
I was under the impression the state was subsidizing the locals with that 500 million they authorized this year - I am assuming that is not the case and is covering the state portion only of the unfunded current liability. Would I be correct ?
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06-03-2013, 01:34 PM #653
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- Dec 2012
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- 331
Re: Ask the PBA
Originally Posted by Guest
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06-03-2013, 01:37 PM #654
- Join Date
- Dec 2012
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- 331
Re: Ask the PBA
Originally Posted by guest99wer
The easy answer is much less. The Legislature has not fully funded the amortized UAL rates for a couple of years.
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06-03-2013, 10:49 PM #655
Re: Ask the PBA
I'm sorry but what does UAL stand for?
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06-04-2013, 01:42 PM #656
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- Dec 2012
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- 331
Re: Ask the PBA
Originally Posted by S Fl Trooper
Unfunded Actuarial Liability (UAL) - the UAL describes the pension fund's estimated total payments to all participants, both actives and retirees, (Liabilities) compared its current estimated value (Assets). So if the fund has actuarial liabilities of $100 billion but only has actuarial assets worth $80 billion, the fund is valued at 80% with a UAL of $20 billion.
There's a lot more that goes into this estimation, but I won't get into all that. The bottomline is the UAL represents a liability to your pension fund which if not properly managed and funded may potentially place your retirement check in jeopardy.
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06-05-2013, 06:34 PM #657
Re: Ask the PBA
Thank you Matt
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06-10-2013, 05:40 PM #658
Re: Ask the PBA
Can a PERC hearing settlement be over turned or can the agency be held accountable after the settlement has been signed if new information has surfaced? For example lets say an employee had a termination letter but an agreement was reached before PERC, so the letter was withdrawn but the employee had to resign. Now said employee has an a resigned in lieu of termination. it was found out that a month before the resigned employees IA, there was another employee who was arrested but there was no IA for that employee, so no punishment. Does the resigned employee have a case due to the agency not conducting IAs equally, or administering punishment equally, or is the resigned employee just out of luck?
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06-10-2013, 11:17 PM #659
Re: Ask the PBA
Originally Posted by Guest
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06-12-2013, 06:30 PM #660
- Join Date
- Dec 2012
- Posts
- 331
Re: Ask the PBA
Originally Posted by Guest
Now as to the one employee having an IA and another not, that would be a disparate treatment argument possibly. But that would be argued if the case had gone to a hearing. So now that the settlement has been signed and accepted by PERC unless there is a breach of contract as a result of one of the conditions agreed upon not being upheld there is nothing that can be done to withdraw the settlement and proceed to PERC.
Sorry. On the other hand, if there is more to the story and you want to discuss it with our legal department please contact us.
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