Politics & Government
Westport Board of Finance to Discuss Recent OPEB Assessment
The Board of Finance will continue it's discussion of the recent OPEB (Other Post Employment Benefits) valuation during a Special Public Meeting Wednesday.
"We are going to have to make some decisions about funding the ARC (Annual Required Contribution)," said Helen Garten, Chair of the Board of Finance.
The ARC are the funds Westport adds in each year in order to cover the liability for how much it would cost to fund the post-employment benefits and pensions for town employees over the next 30 years.
"Are we going to fund the ARC in full? Which discount rate we will use? And if we are going to fund it, where we are going to get the money from?" Garten said.
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In addition, the Board will discuss future valuations and other matters relating to post employment benefits.
The meeting is scheduled for 8:00 p.m. in the Westport Town Hall auditorium.
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