Tuesday, January 18, 2011
Senator McCabe Wants Legislative Session To Consider OPEB
WEST VIRGINIA....
Kanawha County State Senator Brooks McCabe says he's hoping lawmakers take significant steps to address the debt for, what are called, Other Post Employment Benefits or OPEB before the 2011 Regular Legislative Session ends on Saturday, March 12th. McCabe is heading up a legislative working group charged with coming up with ways to address the $8 billion unfunded liability, the money promised to public employees for health care coverage when they retire. McCabe says the money owed, per retiree in West Virginia, is one of the highest in the United States and growing at a rate that's twice that of the general revenue budget. Some possible solutions include benefit cuts and tax increases, redesigns for health care coverage to control costs and overall service reviews. State workers could also be required to work longer before they retire. Earlier this month, officials with the West Virginia Center on Budget and Policy said reports of a "crisis" for OPEB had been overestimated.
Kanawha County State Senator Brooks McCabe says he's hoping lawmakers take significant steps to address the debt for, what are called, Other Post Employment Benefits or OPEB before the 2011 Regular Legislative Session ends on Saturday, March 12th. McCabe is heading up a legislative working group charged with coming up with ways to address the $8 billion unfunded liability, the money promised to public employees for health care coverage when they retire. McCabe says the money owed, per retiree in West Virginia, is one of the highest in the United States and growing at a rate that's twice that of the general revenue budget. Some possible solutions include benefit cuts and tax increases, redesigns for health care coverage to control costs and overall service reviews. State workers could also be required to work longer before they retire. Earlier this month, officials with the West Virginia Center on Budget and Policy said reports of a "crisis" for OPEB had been overestimated.
# posted by Homer Owens @ 9:26 PM 
