This issue includes the following news summaries:

• SSA Announces 2.8% Cost-of-Living Adjustment for Social Security Benefits for 2026
• S&P Global Ratings Reports U.S. States' Debt Eases While Pension and OPEB Funding Improved in 2024
• Society of Actuaries Releases 2025 Mortality Improvement Update
• CRR Studies Employment Trends for Older Workers Post-COVID
• NASRA Updates Issue Brief on State Hybrid Retirement Plans
• SSA Releases New Summary of the Impact of Policy Proposals on OASDI Combined Trust Fund

In this issue:

• Supreme Court Holds Retirees Not Protected by the Americans with Disabilities Act
• Reporting and Withholding of Uncashed Retirement Checks
• One Big Beautiful Bill Act: Health and Welfare Provisions

This issue includes the following news summaries:

• GRS Publishes Article on Prefunding OPEB Liabilities
• American Academy of Actuaries Publishes Policy Paper on the Retirement Security of Public Sector Workers Not Covered by Social Security
• S&P Global Reports Local Government Pension Funding Levels and Credit Ratings Improved in Fiscal Year 2024
• CRR Studies Expanding Social Security’s Payroll Tax Base to Increase Revenue

This issue includes the following news summaries:

• S&P Global Ratings Reports U.S. Public Pension Funded Ratios Continue to Improve in 2025
• MissionSquare Releases State and Local Government Workforce Survey Results for 2025
• NASRA Updates COLA Issue Brief
• CRR Publishes Issue Brief on Medicare 2025 Trustees Report

Typically, employers finance Other Post-Employment Benefits (OPEB) obligations through either: 1) a Pay-As-You-Go (PayGo) approach; or 2) prefunding through a dedicated trust. In this article, we compare these two approaches by highlighting their advantages and drawbacks, and comparing their financial impact through a practical case study. This article is intended to increase awareness in the advantages of prefunding OPEB benefits, while also balancing current budget priorities with long-term fiscal sustainability.