Vallejo, California will not file bankruptcy after favorable discussions with public safety unions last week. The city of 120,000 cut revenue projections by $5 million dollars, largely because the real estate crunch has impacted property transfer tax receipts, sales tax and development fees. Reports of Vallejo's budget problems created even more budget problems, as more than 20 employees, trying to lock in their pensions, filed for retirement in the latter half of February alone …projected to cost the city more than $2.5 million in payouts for their unused leave.
Read more -- The Bond Buyer, March 3, 2008.

Hear expert solutions to your unfunded OPEB liability at The Bond Buyer's OPEB 3.0 Conference, March 17-18 at The Fairmont Chicago. Register Now.

Monday, March 17

• Welcome to OPEB 3.0: Better Ways Mean Better Days Ahead
• The Realities of OPEB Policy Today: Turning Challenge Into Opportunity, Dr. Thomas R. Saving, Texas A&M University
• Lessons Learned: What Employers Really Want, and How the Market is Adjusting to Deliver it
• Doing Justice to OPEB: How Rating Agencies Can Motivate Constructive Action
• True Stories from the OPEB Vault, Nancy Kopp, State of Maryland
• The 5-Minute OPEB workout
• Building an OPEB Open Marketplace: Plug-and-Play Convenience with Maximum Employer Choice
• OPEB Goes Global
• Setting Up and Funding an OPEB Trust
• Actuarial and Disclosure Management: Predictions and Revelations

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• Aggressive But Safe Asset Management
• Making Choices
• What to Do Next

The Bond Buyer’s OPEB 3.0 Conference offers expert insight addressing solutions to your unfunded OPEB liability along with valuable networking opportunities.