OPEB : coming to grips with the cost of retiree health care
By: MEAD, Dean Michael
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Contributor(s): TAYLOR, Marcia.
Material type: 
ArticlePublisher: Washington : Internacional City/County Management Association ICMA, May 2006PM Public Management 88, 4, p. 12-21Abstract: City and county officials across the United States are talking about staff retirement benefits. This reflects the national media scrutiny that pensions - both public and private - have received lately. In addition, the Governmental Accounting Standards Boards(GASB) recently issued new government accounting standards related to other post-employment benefits(OPEB). OPEB consist primarily of retiree health insurance coveragem which in many cases carries a hefty price tag;reporting costs of retiree health insurance in audited financial statements reflects the significant effect that these benefits sometimes have on a government's finances. Many government entities have granted OPEB in lieu of current wage or benefit increases because the financial impact of OPEB often is not realized for many years
City and county officials across the United States are talking about staff retirement benefits. This reflects the national media scrutiny that pensions - both public and private - have received lately. In addition, the Governmental Accounting Standards Boards(GASB) recently issued new government accounting standards related to other post-employment benefits(OPEB). OPEB consist primarily of retiree health insurance coveragem which in many cases carries a hefty price tag;reporting costs of retiree health insurance in audited financial statements reflects the significant effect that these benefits sometimes have on a government's finances. Many government entities have granted OPEB in lieu of current wage or benefit increases because the financial impact of OPEB often is not realized for many years
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