Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Actuarial report: Monticello OPEB liability about $14.9M; district may rely on levy
Summary
Actuarial consultants reported an accrued OPEB liability of about $14.9 million covering retiree medical, dental, and life benefits; district has under $1 million in an irrevocable OPEB trust and may use the annual MDE OPEB levy for most unfunded payments.
Jill Erldahl from USA Consulting Group presented the district’s actuarial valuation of other postemployment benefits (OPEBs) on Nov. 17.
Erldahl explained that the valuation covers two primary components of postretirement benefits: direct subsidized benefits explicitly provided in contracts and an implicit rate subsidy created by Minnesota statute that requires retired public employees to be offered access to group medical and dental plans…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
