GASB’s New Defined Benefit Pension Standards: Sunshine or Rain for Cities?, continued from page 11
California’s defined benefit pension issues pose the second biggest challenge in the state for the foreseeable future, behind the spiraling costs of post-employment health care. J
O
B
O
P
P
O
R T
U
N
I
T
I
E S
Fire Chief, Chino Valley Independent Fire District, CA calculated in accordance with certain parameters.” The traditional view of the ARC is that it drives pension costs. However, the ARC bears only a minimal relationship to an employee’s work in exchange for future defined benefits. The ARC will now be a measure of the amount of contributions, rather than benefit expense. • Because the ARC will not be a measure of pension expense, the annual expense will be derived largely from the sum total of an employee’s pensionable work in exchange for benefits that they have earned. The sum total of these expenses, adjusted for demographics and other core assumptions that are embedded in the pension plan of a local government, will now be used to calculate the total pension liability, which leads to the next and perhaps most important point. • For the first time, the net pension liability will be shown on the face of every government’s financial statements. The net pension liability is the sum of the total pension liability less the total amount held in trust for pension benefits. If the total pension liability is less than the assets, then for those few governments that are well-funded this number will indeed be a net asset. • For governments that are members of cost-sharing plans (including county retirement systems) or agent-multiple
The Chino Valley Independent Fire District is known for the delivery of high-quality emergency services to the Chino Valley, including emergency medical and paramedic services, hazardous materials response and urban search and rescue services. The CVIFD is seeking a Fire Chief to oversee seven fire stations housing over 100 professional firefighters an annual budget of $28.7 million and the administrative functions of the department. The Board of Directors is looking for a leader with proven management skills. The new Fire Chief must be an effective communicator capable of earning the trust and respect of the Board of Directors, members of the Department, and the leadership of the cities that the District serves. The ability to relate effectively to elected officials and organizational leaders is a critical skill for this position. The Fire Chief should embrace a leadership approach that values collaboration, and the participation of members of the Department in decisions effecting the operations and policies of the Department. Candidates should possess a minimum of 10 years experience in the fire service with 5 years service at the Chief Officer level, including one year in an administrative capacity. Experience of an equivalent nature will be considered. Candidates should possess a bachelor’s degree in public administration, fire science or a similar field. Other desirable qualifications include a master’s degree and completion of the National Executive Fire Officer program. Experience in administration including special district governance, budget, finance and human resources is also desirable. The salary for the incoming Chief is dependent upon qualifications. The District also offers an attractive benefits package. If you are interested in this outstanding opportunity, please apply online at www.bobmurrayassoc.com. Please contact Mr. Bob Murray at (916) 784-9080 should you have any questions. Brochure available. Closing date November 16, 2012.
phone 916•784•9080 fax 916•784•1985 www.bobmurrayassoc.com
Now recruiting for . . .
Fire Chief
Alameda County
Police Chief City of San José
Fire Chief
San Ramon Valley Fire Protection District Teri Black • 310.377.2612 Joe Brann • 310.265.7479 Steve Parker • 949.322.8794
continued
www.westerncity.com
Western City, November 2012
21