Decisions regarding pension and OPEB costs are complex, and even more so with a global pandemic in the equation. Regardless of COVID-19, public finance leaders, public officials and the citizens have to make short and long-term decisions on policies and budgets that are impacted by these rising costs.

Key learning objectives:

• Assess how current and future OPEB costs are affected by COVID-19 and how this impact should be communicated
• Analyze the impact of COVID-19 on actuarial assumptions and how this affects government agencies
• Discuss the differences between CalPERS and agent risk-pool plans, and how additional contributions are distributed within them
• Further insight on pension and OPEB through labor cost negotiations, furloughs/layofffs, and overall personnel cost management