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Auditors flag $115M OPEB liability; town weighing pension bonds via home‑rule petition
Summary
The fiscal 2024 audit presentation reported an Other Post‑Employment Benefits (OPEB) liability of about $115 million, noted optional funding status, and reviewed a long‑running home‑rule petition to allow pension bonds as a potential financing tool.
Auditors told the Nantucket County Audit Committee on May 14 that the town’s OPEB — other post‑employment benefits — liability for fiscal 2024 is about $115 million, while plan assets cover roughly 6 percent of that liability.
Tony Roselli, partner at Roselli Clark and Associates, described OPEB as health, dental and life insurance obligations to retirees and said the actuarial…
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