H. Post-employment benefits other than pensions (OPEB)

City Council Meeting · 2026-04-28 · agenda_item

This agenda item concerns the City of Clermont's plan for post-employment benefits other than pensions, specifically health care coverage for retirees. The City provides medical insurance to active employees and is required to offer retirees the chance to join the same group plan. Retirees pay the full cost of their insurance premiums. While the City does not directly pay for retiree premiums, allowing them to access group rates is considered an economic benefit, creating an obligation for the City. This obligation is currently funded on a pay-as-you-go basis, meaning the City pays only for current year costs. The City Council sets the benefit rules. This item is under review as part of financial reporting. The work involved relates to financial accounting and reporting, with potential needs for actuarial services and legal review of benefit structures. Businesses specializing in financial consulting, accounting, and legal services may find opportunities related to understanding and managing these obligations.

medical costs subsidized

359 $