Tag: other post employee benefits

Written by Diane Benjamin - editor

Normal Obligations to retirees

By: Diane Benjamin The below information is from the Illinois Comptroller website: https://tinyurl.com/w25h7sk9 Start with the Total OPEB Liability. In TWO years it increased 42.86%. What is OPEB? Other Post Employment Benefits, in other word promises to retired employees other than a pension. The Town of Normal pays these costs as incurred. Unlike the private […]

Written by Diane Benjamin - editor

Pension Debt: Reserve the UHaul now

By:  Diane Benjamin Bloomington has finally posted the 4/30/19 financial statement. OPEB = Other Post Employment Benefits Both Bloomington and Normal are in more debt now because of pensions and OPEB. Bloomington has almost $231,000,000 in long term debt and growing Normal has more than $186,000,000 in long term debt and growing. Illinois isn’t even […]