Turner Administration Plans Overhaul Of Retiree Health Benefits To Avert Budget Crisis

Houston has been underfunding retiree packages for city employees for years. It’s now $2.4 billion in the red.

By Andrew SchneiderJanuary 30, 2019 9:30 am, , ,

From Houston Public Media:

Recent shutdown aside, working for the government has its perks, such as generous retiree packages. Known as Other Post-Employment Benefits (OPEB), they help pay for a retiree’s health insurance. But hundreds of state and local governments, including Houston’s, have chronically underfunded OPEB. And now with baby boomers retiring, the bill is coming due.

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