A Double-Edged Sword: The Economics of Pension Obligation Bond Financing for Local Governments
October 24, 2012
10:00am-11:45am (Pacific Time)
Pension Obligation Bonds (POBs) can be an appealing strategy for managing a public agency’s unfunded pension liability. As attractive as this approach may appear from a budgetary standpoint, the use of POBs can be a “double-edged sword”– providing budget relief and interest rate savings offset by investment return risks and the substitution of more rigid long-term financing terms. This webinar is designed to provide an examination of the benefits and risks of utilizing POBs and provides a discussion of the policy considerations, financing options, and disclosure requirements for financing pension liabilities.
Moderator: Thad Calabrese Ph.D., Robert F. Wagner Graduate School of Management
Presenters:
- Roger Davis, Partner, Orrick Herrington and Sutcliffe
- Rob Larkins, Managing Director, Raymond James/Morgan Keegan
- Jenna Magan, Partner, Orrick Herrington and Sutcliffe
- Brian Whitworth, Senior Vice President, First Southwest