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Retiree Healthcare Tops Unfunded Pensions as Fiscal Threat

Can anything be in worse condition than unfunded government pensions? Unfortunately, yes – and it’s something few people have heard of. It’s called OPEB (Other Post-Employment Benefits), or government retiree healthcare commitments. The average state has $11.46 billion of unfunded retiree healthcare debt compared to $10.85 billion of pension debt as of fiscal year-end 2012.  OPEB and pension benefits are part of employee compensation. Just like salaries, these retirement benefits are costs...

International Advisor Warns: Expect More Companies to Quit US

Living standards, jobs and long-term economic growth are at risk because an increasing number of United States firms are likely to relocate overseas due to America’s current “uncompetitive and anti-business” corporation tax rate, warns the boss of one of the world’s largest independent financial advisory organizations. The prediction from Nigel Green, the founder and chief executive of deVere Group, which operates in 100 countries worldwide, comes after the Chairman of the Senate Finance...

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