Promises and Pressures: Pension and OPEB Sustainability in an Aging America

Municipal issuers face mounting pressure from unfunded pension and other post-employment benefit (OPEB) obligations due to challenges increasingly tied to demographic shifts. Aging populations, slower workforce growth and rising healthcare costs can strain contribution bases, while retiree health care costs and longevity risk drive liabilities higher.

Orrick Senior Counsel Marc A. Levinson will join a panel discussion at the National Federation of Municipal Analysts’ (NFMA) Annual Conference focused on how these dynamics are reshaping credit quality, how plan trajectories vary across jurisdictions, strategies to manage and mitigate risk, and the treatment of such obligations in municipal bankruptcy cases.