Health & Fitness
Marblehead Has $160 Million in Unfunded Retiree Liabilities
Marblehead Has $160 Million in Unfunded Retiree Liabilities
In the Boston Business Journal, they are now showing the unfunded retirement liabilities per town. If you add up Retiree Health and Pension Liabilities, it shows thats that we have over $160 Million in unfunded liabilities in Marblehead.
The article states ....."That means the Bay State's cities and towns will face a difficult choice at some point down the road: whether to scrabble together the additional funding required to pay for those unfunded retiree liabilities when they mature, or forgo offering those benefits altogether. For the communities that do decide to pay, today's budget realities will likely require hefty property-tax hikes or dramatic cuts to basic services"
Does anyone have insight into how this has been discussed in the town budget planning process? This model shows that this would cost every citizen of Marblehead an additional $8,113 in property tax revenue to make up the difference.
