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Friday, September 11, 2015

County mulls long-term state of retiree medical trust funds

Though it has little effect on the county’s ability to provide health coverage to its employees past and present, Worcester County’s Comprehensive Annual Financial Report (CAFR) has been massively overstating the funding ratio percentage since 2009.

In the recent debate by the Worcester County Commissioners over whether to end spousal and dependent health coverage for retirees, the pivotal question was exactly how the county’s financial position is in when it comes to funding these benefits.

Not quite as good as one might believe, given that the county’s CAFR lists the aggregate funding level of the two retiree health funds (one for board of education employees, one for the county’s direct employees) at 82 percent in 2014.



Anonymous said...

Health coverage should be FREE to a retiree and his family.If we spend our money wisely it could be,there is way to much waste in society.

Anonymous said...

Tax payers money

Anonymous said...

What is the status in Wicomico?

Anonymous said...

They are our friends and neighbors that want THEIR friends and neighbors to pay for their benefits, in the form of taxpayer dollars. Ironic that their friends and neighbors can't get that kind of benefit in the public sector. Even though they are our friends and neighbors, it makes them a "them against us" situation. They don't really care about their friends and neighbors when it comes to getting their friends and neighbors to pay for their Cadillac benefits.

Anonymous said...

12:34 it's just a matter of time. Failed the first time, but won't the second try!