Wednesday, January 22, 2020

Live reporting: OPEB Update, etc.

- None Scheduled

- None Scheduled

OPEB (Other Post Employment Benefits) Presentation

Dan Sherman

The released doc is shown in the link here, what he talked to doesn't seem to match

add 2-pager doc later
top quartile in terms of peers for funded ratio

additional funding of 3.1M would be required /per year, to make up the funding required.

where are we now, how do we get to 3-4M per year?

when a community gets to full funding on Pension to send that money to OPEB
Franklin estimated to get to that point at about 2030

calculating with the assumption that Franklin would continue funding OPEB as we do today, and then roll the Pension funding to OPEB

The Federal Reserve has been keeping inflation in check for any number of years. The CPI is holding about 2.9/3.0 percent

you're ahead of most of your peers, a member of the majority funding something

Town does have a policy per operating budget to increase the amount 50,000/ also approve 10% of free cash; should take a look at it again, 2030 is a ways away

Kelly - arrives at 7:26 PM

a. Capital Budget Subcommittee
we had a meeting last week
coming to the Council Feb 5

b. Budget Subcommittee
nothing to report at this time

c. Economic Development Subcommittee
nothing at this time
next meeting Feb 5

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