TriMet doesn’t fund OPEB again

As TriMet’s unfunded retiree healthcare benefit obligations approach a billion dollars, their budgeted funding continues to drop. What was a token million dollars in the past dropped to $865,760 for the 2012/13 budget cycle and even that level of funding proved to be too much. The approved 2013/14 budget only commits $235,000 (pg. 50) to fund OPEB obligations.
To put this into perspective, TriMet’s own actuaries tell them that in order for them to catch up and stay current with retiree healthcare obligations they need to save over $83 million dollars a year (pg. 28), $235,000 just isn’t going to cut it.
If OPEB funding ever becomes a requirement like pension funding, it would sink TriMet. Where in the world would TriMet scrounge up $83 million dollars a year? Interestly, there is a bill in the works to do just that. House bill 3444 would require public entities to make good on their promises just like their private counterparts.
If this bill ever passed TriMet would be bankrupt overnight.

TriMet doesn't fund OPEB again - Expose Oregon | Expose Oregon