SAN FRANCISCO — States face more than $450 billion in other post-employment benefits owed to their retired employees, but they should be able to manage the liabilities if they begin to address them now, according to a report from Standard & Poor’s.

The Government Accounting Standards Board in 2004 required governments that follow generally accepted accounting principles to report their OPEB liabilities in a similar way to their reporting of pension liabilities. Retiree health care is the biggest OPEB for almost all governments.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.