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LaSalle County committee: OPEB liability rises about $22 million; report accepted
Summary
At the LaSalle County Insurance Committee meeting, an actuarial review showed the county's OPEB (retiree-health) liability rose from about $64 million to $86 million, largely because claim costs and Medicare changes exceeded prior trend assumptions; the committee voted to place the report on file.
Roman, the actuary presenting the annual retiree-health valuation, told the LaSalle County Insurance Committee that the county's other post-employment benefit (OPEB) liability rose by roughly $22,000,000 this year and that most of the increase was driven by higher-than-expected claim costs and a small effect from lower interest rates. "The liabilities increased by 22 about $22,000,000 this year, which is actually the largest increase that we've had," Roman said during the meeting.
Roman gave figures showing the liability grew…
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