Research Bureau’s OPEB report predicts grim future

Full and original article posted on Worcester Magazine

Worcester’s unfunded Other Post Employment Benefits (OPEB) liability is more than $727 million, which is common knowledge among city residents who don’t mind sitting through sometimes boring finance discussions, such as the one in last week’s City Council meeting. A Worcester Regional Research Bureau (WRRB) report released today supports a more proactive approach to dealing with the liability, predicting a $2.1 billion liability 30 years from now if the current method of payment continues.

“As a result of its failure to systematically address OPEB, the City is currently $224,156,680 in arrears on a 30-year program to retire its OPEB liability,” the report reads.

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