Location of Pottstown in Montgomery County (Photo credit: Wikipedia)
POTTSTOWN — Facing a potential liability of as much as $27 million for medical costs for current and future retired police personnel, the borough is finally beginning to set aside money to cover the costs, as a financial review and several audits have recommended.
At its Sept. 4 meeting, council was briefed on the proposal to set aside $250,000 per year for what the council agenda labeled opaquely as “OPEB,” which, according to Borough Manager Mark Flanders, stands for “other post employment benefits.”
The official vote will occur at Monday night’s council meeting, which begins at 7 and is the meeting at which the public is allowed to comment.
These potential costs are not retirement payments, but rather represent medical benefits for retirees, both current and future.
Read more: http://www.pottsmerc.com/article/20130908/NEWS01/130909553/pottstown-takes-aim-at-27m-in-medical-costs-for-retired-police#full_story