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New Pension Rules to Have Little Impact

AUGUST 18, 2014 | WILLIAMSTONDAILYNEWS.COM

By Ron Gregory, includes “Although the Governmental Accounting Standards Board approved rules in June 2012 requiring a change in reporting pension plan accounts by local government, most state and Southern West Virginia officials think the plan will have little impact on them. Most city and county officials said they have been working diligently to make sure government-operated pension plans are solvent and have had little time to consider Statement Number 67 and 68, as the changes are labeled.  Still, sources such as Charleston Mayor Danny Jones and state Retirement Board Chief Fiscal Officer Darden Greene expect the local impact to be minimal. …”

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