Monday, February 28, 2011
Unfunded Health Costs
State and local governments have usually ignored the financial ramifications of promising retirement benefits, including health insurance coverage, to employees. The accounting folks have finally gotten around to requiring those governments to at least acknowledge the future hit that taxpayers will take for being profligate. That includes Egremont. The town is not yet required to fund the future cost currently, but it should. Keep this item in mind when you consider the town budget at the town meeting in May. I'll bet the employees will try to downplay the matter. Here's hoping the finance committee raises it squarely.
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1 comment:
Good point. Egremont's Selectmen should take the lead in reporting the full costs of the decisions they take on our behalf and at our expense. Let's see if they're (finally) up to that responsibility!!
Perhaps by the May meeting they'll be able to tell us what the unfunded costs of their previous decisions on healthcare benefits, etc. are for the Town.
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