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Commissioners authorize up to $3.5 million from OPEB trust and direct staff to model pay-parity options
Summary
The St. Mary's County Board of Commissioners authorized staff to use up to $3.5 million from the county's OPEB trust in the FY2020-21 budget process to address pay parity and other compensation items, and directed the county administrator and finance staff to return with market-adjustment figures for sworn personnel.
The St. Mary's County Board of Commissioners on Feb. 25 gave staff authority to use up to $3.5 million from the county's Other Post-Employment Benefits (OPEB) trust as a budget option and directed staff to develop market-adjustment figures for sworn personnel and to model impacts of pay-parity options.
During the budget work session, finance staff presented Bolton actuarial scenarios and a range of options for drawing money from the OPEB trust. Commissioners debated the timing and prudence of using trust assets versus general-fund resources and asked staff for scenarios that would show the budgetary…
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