When Detroit recently filed for bankruptcy, one number surprised a lot of observers--$6.4 billion in other post-employment benefits (OPEB). OPEB is primarily comprised of unfunded obligations to pay health care costs for municipal employees.read more...
City of Novato and Town of Atherton Adopt the PARS OPEB Trust to Reduce Retiree Health Care LiabilityCategories: Hot Sheets,OPEB/GASB 45/75
By now OPEB is a familiar term to local officials. It involves an unfunded liability for post-employment benefits promised to retirees from the public sector. Although agencies are not required to pre-fund this obligation (GASB 45), many have chosen to