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Other Post Employment Benefits (OPEB) - Options Actuarial Study Results
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INFORMATION CONTACT:
Beverly Liles, Finance, Director, 704-283-3675
ACTION REQUESTED:
Provide staff with direction on next steps for OPEB Options.
PRIOR BOARD ACTIONS:
June 3, 2024, Regular Meeting, Agenda Item # 24-386 - The Board directed staff to initiate an actuarial study to analyze the long-term financial impact of other post-employment benefit scenarios.
BACKGROUND:
The County currently offers two OPEB options to retirees outside of the local government retirement system to those employees that are eligible based on the County’s adopted Personnel Resolution. These benefits include retirees’ health care and separation allowance pension benefits.
FINANCIAL IMPACT:
To be determined.