Legislator Wants To Address OPEB Unfunded Liabilities

A bill to that effect has been pre-filed.



Annapolis, Md. (KM)  A bill to address the unfunded liabilities in the Other Post Employment Benefits Trust Fund will come before legislators during the 2017 Maryland General Assembly. Frederick County Delegate Carol Krimm says she has pre-filed legislation to address this issue.

The OPEB Trust Fund is designed to help local governments  invest in funds toward future obligations for health insurance for county and municipal retirees. In addition to county and local governments, government-funded entities can participate such as community colleges and libraries.

Over the years, a number of governments have not put in a lot of funds to keep the promises made to the retirees. “We received a briefing last year from {the Department of} Legislative Services that drew our attention to that, that we are not putting any money into our OPEB Trust Fund,” says Delegate Krimm.

She says her bill would not cost any extra money. It would require government agencies who end the fiscal year with some additional funds to put some of that cash into the OPEB Trust Fund. “It really doesn’t cost any money going in. It’s only if there’s any money left over that we put money toward the trust fund,” says Delegate Krimm.

The 2017 Maryland General Assembly 90-day session got underway on Wednesday in Annapolis.


By Kevin McManus