LOS ANGELES - Municipal bond issuers have measured their other post-employment benefit liabilities, reported them on their financial statements, and come to a conclusion: Most can't pay what they've promised.

Speakers and attendees at The Bond Buyer's Fourth Annual Pension and OPEB Financing Conference here discussed strategies for issuing bonds to fund the massive retiree health care liabilities they were forced to acknowledge in the wake of Governmental Accounting Standards Board Statement 45. They discussed ways to manage newly created OPEB trust funds and debated the desirability of jumping into the stock market while prices are low.

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