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Funding Newton’s Post-Retirement Benefits – The “OPEB” Issue: Topic Meeting

March 31, 2015

Please join us on Wed, April 8, 11:30 am – 1:00 pm at NewTV, 23 Needham St., Newton

Brown-bag lunches welcome

Employees of the City of Newton earn both current (salary) and deferred compensation. Newton’s employees receive their deferred compensation – pensions, post-retirement healthcare, and similar benefits – once certain age service thresholds are met and the employee retires.

While Newton is required to set money aside to cover future employee pension liabilities, there are currently no such requirements for Other Post-Employment Benefits (OPEB) such as healthcare. As a result, OPEB are paid against current year budgets as needed, and future needs show up as an unfunded liability on the City’s balance sheet.

This month’s topic meeting will explain the OPEB issue, provide an understanding of what risks the OPEB problem poses for the City’s financial health, and discuss strategies that other municipalities have used to address such future funding needs.

Our speakers will be:

  • Tony Logalbo – Finance Director, Town of Concord
    • An explanation of the OPEB problem and Newton’s current situation
    • Discussion of other municipalities’ strategies
  • Maureen Lemieux – CFO, City of Newton
    • Discussion of Newton’s plans to fund OPEB in the near- and long-term

Each speaker will have the opportunity to speak for 15 minutes, followed by open discussion among all attendees.

Categories: City of Newton Info, Events, Municipal Finance

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The League Presents... is a monthly program on NewTV produced and directed by LWVN members about issues important to our community.

  • The League Presents: Zoning Redesign Part III; Village Center Overlay District Ordinance
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League of Women Voters of Newton, MA

League of Women Voters of Newton, MA

The League registers voters and educates them about the important issues and challenges facing Newto

League of Women Voters of Newton, MA

3 days ago

League of Women Voters of Newton, MA
National Voter Registration Day is Sept 19!Make sure you're #VoteReady in 2023 by checking your voter registration status on MA's online voter registration site, especially if you haven't voted in awhile or your life has included any of the following:🚚 a move💍 name change🇺🇸 new US citizenship🎂 an 18th birthdayAnd, this is a good day to remind your family, friends, and neighbors to register & vote in the upcoming local elections! ... See MoreSee Less
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League of Women Voters of Newton, MA

1 week ago

League of Women Voters of Newton, MA
In this month's episode of The League Presents, learn about the Village Center Overlay District Ordinance from Jennifer Caira – Deputy Director, Planning & Development Department and Councilor Deb Crossley – Chair Zoning & Planning Committee. ... See MoreSee Less

The League Presents - Zoning Redesign 111

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Marcia Johnson, Jennifer Cairo and Deb Crossley discuss the Newton Zoning Redesign.

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League of Women Voters of Newton, MA

3 weeks ago

League of Women Voters of Newton, MA
The preliminary election for Ward 2 and 6 is September 12. Mark your calendar and make your voting plan. Learn about the candidates and get voting information here: lwvnewton.org/2023/08/newton-preliminary-election-tuesday-september-12-2023/ ... See MoreSee Less

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League of Women Voters of Newton, MA

3 months ago

League of Women Voters of Newton, MA
In the last few days of Pride Month, check out these two informative programs by the League of Women Voters of Newton, MA1) The League Presents... Pride Month Edition - A Conversation with Newton Youth: lwvnewton.org/2023/06/the-league-presents-pride-month-edition-a-conversation-with-newton-youth/ 2) LGBTQ+ Backlash: What you can do to push back. View the recoding here: lwvnewton.org/2023/06/video-presentation-anti-lgbtqia-backlash-what-can-you-do-to-push-back/ ... See MoreSee Less

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League of Women Voters of Newton, MA

4 months ago

League of Women Voters of Newton, MA
Anti-LGBTQIA+ initiatives are taking root throughout the country and Newton is not immune. Hear from the ACLU’s Ruth Bourquin about the context, consequences, and responses to the anti-LBGTQIA+ backlash at this month’s virtual topic meeting. This meeting is free and open to the community. Register in advance: us02web.zoom.us/meeting/register/tZ0lfuyhrzwtGNTYlmG-GpCBxTa1Z5MS81Ga#/registration ... See MoreSee Less

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The League of Women Voters is a nonpartisan political organization encouraging the informed and active participation of citizens in government. It influences public policy through education and advocacy.

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