Brookline select board adopts policy to steer pension runoff toward retiree health costs

The Brookline Select Board voted Tuesday to adopt a revised unfunded liabilities policy that directs money freed when the town’s pension unfunded liability is fully paid toward reducing the town’s unfunded other post-employment benefits obligation and strengthening reserves. The board approved the measure unanimously. The policy clarifies that when the pension system’s outstanding unfunded liability is satisfied, the town will prioritize applying the resulting savings to OPEB — principally retiree health benefits — while preserving flexibility to place some funds in reserves. Lincoln Heinemann, the town’s finance director, told the board the…