Follow the guidelines below and add the required documentation to your entity's website to qualify for a Public Pensions Transparency Star. To be eligible for this Transparency Star, your entity must first receive the Traditional Finances Transparency Star. Due to limited independent decision-making, entities participating in statewide or other non-single employer defined benefit plans are ineligible for the Public Pensions Transparency Star, as noted in our awardees table.
Efforts to enhance public pension transparency have been gaining momentum in recent years amid concerns regarding actuarial practices and plan solvency. HB 3310, passed in the 84th Legislative session, for example, increases accountability among public pension plans exceeding $100 million in asset value.
This summary should include the following from the most recent actuarial valuation, as well as a narrative section with explanations (or links to explanations) of terminology for each and comparisons with GASB, Pension Review Board or other applicable benchmark as appropriate:
You may wish to include additional pieces of data that provide context reflective of standards or conventions particular to your entity type. You may use the optional Public Pensions Summary Form (PDF) to complete the Summary section.
Post data visualizations to your website showing the following:
You may wish to include explanations or subsets of these trends in the visualizations, or post additional visualizations that provide context reflective of standards or conventions particular to your entity type. See the sidebar for templates you may choose to use to create required visualizations. The visualizations must be posted on the page itself and must be — like all the required information on the transparency page or section — easy to view and to interpret.
Post the following documents separately from the plan's audits and annual financial reports:
Make the following data available for download in a tabular or spreadsheet format to aid in researching your entity:
Your transparency site should also include the following: