The Finance Committee of Millis, MA, is gearing up for significant changes in its retirement funding strategy, aiming for full funding of the Norfolk County retirement system by 1932. This ambitious goal reflects a broader trend among communities grappling with the dual challenge of funding both retirement and Other Post-Employment Benefits (OPEB).

During the meeting on September 24, 2025, committee members discussed the pressing need to shift financial resources once the retirement system is fully funded. "Most towns are looking to transition funds from the Norfolk County Retirement to OPEB accounts," one member noted, highlighting the difficulty of managing both financial obligations simultaneously. This shift is crucial as many towns are still addressing the repercussions of decades of underfunding, where past practices left them with significant unfunded liabilities.

The committee also touched on the ongoing contributions from employees, which are deducted from paychecks at rates higher than Social Security, to support the regional retirement system. This funding model aims to rectify historical funding gaps and ensure future sustainability.

Looking ahead, the committee plans to invite various department heads, including the tree warden and fire chief, to discuss additional financial matters, including updates to animal fines and procurement bylaws. As the committee continues to navigate these financial complexities, further information will be shared in upcoming meetings, signaling a proactive approach to fiscal responsibility in Millis.