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Auditor General, lawmakers press municipalities on unfunded retiree health liabilities
Summary
The Auditor General and lawmakers urged action on municipal OPEB liabilities during committee hearings on bills that would require monitoring and corrective action for retiree healthcare funding.
The House Committee on Municipal Government and Housing on March 27 heard testimony from Auditor General David Bergantino and municipal officials about bills intended to increase oversight and corrective action for municipal retiree-health (OPEB) liabilities.
Why it matters: Many Rhode Island municipalities carry large, unfunded retiree-health liabilities. Witnesses said failure to address funding could leave future local governments and taxpayers to consider deep benefit cuts or emergency interventions.
What lawmakers considered - House Bill 5947 (Representative Felix): Compliance requirements for municipal contributions to retiree-health trusts; the…
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