Thursday, December 4, 2014

In the News: Holiday Stroll, funding OPEB

A Holiday Stroll will kick off Thursday evening at Dean College with carolers providing the festive background music for a tree-lighting ceremony. 
The ceremony starts at 4 p.m. on the Dean College campus, 99 Main St., with the historic Dean Hall serving as the backdrop. The stroll then moves into the downtown, where more than 30 local businesses will provide entertainment, food and shopping until 7 p.m. for the hundreds of revelers expected to attend the Franklin Downtown Partnership annual event. 
“The Holiday Stroll is a unique event that we feel really showcases our businesses," said organizer Gregg Chalk. "Our merchants stay open late and invite everyone inside. It’s a great opportunity to discover new businesses and have one-on-one conversations with business owners."
Continue reading the article in the Milford Daily News here (subscription maybe required)

In recent years, Franklin and towns throughout the state have made it a mandate to put away more money for other post-employment benefits, also known as OPEB, which consists mostly of retiree health insurance. 
Franklin has an $89 million unfunded liability that is continuing to grow. To date, town officials have saved about $1.2 million in a stabilization account, but the creation of a trust would give them more options to invest the money in hopes of shrinking the liability. 
"If you establish a trust, you are allowed by law to invest in a much broader way, including equities," said Town Administrator Jeffrey Nutting. "This is happening across the commonwealth." 
The trust will be made up of five members, including Nutting and two residents appointed by the council.
Continue reading the article in the Milford Daily News here (subscription maybe required)

No comments:

Post a Comment