In a nutshell
The OPEB fund provides payment for doctor visits, emergency care and prescription costs for all county employees working toward retirement health care benefits as well as all retirees and their spouses.
On June 13, commissioners voted unanimously to make the $19.94 million deposit, moving the surplus from its general fund to the OPEB trust fund through its employee benefits budget.
The OPEB trust, which was established in January, now holds $25.54 million toward the county’s post-employment benefits.
The backstory
Attention turned to the outstanding OPEB debt in the first quarter of this year, while commissioners discussed the possibility of a November mobility and parks bond as well as a short-term housing solution for residents who are at risk of homelessness.
County Auditor Ed Sturdivant proposed in March to aggressively confront the debt by shifting every excess dollar in the budget to the OPEB trust, originally anticipating a surplus by October.
Quote of note
“We have to demonstrate to the public, to our retirees, our employees working toward retirement, our bond rating agencies [and] our underwriting team that we are not just ... waiting for this to go away,” Sturdivant told Community Impact in March.
