LUNCHTIME SPEAKER SERIES
MARC JOFFE, Senior Policy Analyst, Reason Foundation
Contra Costa County local governments have over $1.8 billion in unfunded other postemployment benefit (OPEB) obligations, mostly for retiree healthcare. This cost burden is on top of the $4.5 billion in pension debt county, city and school district governments have accumulated. Marc Joffe, a Senior Policy Analyst at Reason Foundation has crunched the numbers and will show you which agencies in Contra Costa County have OPEB problems and which don’t. He will also discuss approaches to reducing or eliminating this debt that you could advocate in your community or school district.
Also, by special request, Marc will update you on the financial situation in El Cerrito which just received a highly critical report from the State Auditor. Marc consulted with the State Auditor’s office on the development of its Local Government High-Risk Dashboard and will explain why El Cerrito was singled out and how it can begin to dig out of the financial hole it has dug for itself.
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