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STEWARDSHIP AND ACCOUNTABILITY <br />Other Post -Employment Benefits (OPEB) <br />Paying post -employment benefits, like health <br />care and life insurance premiums, is a <br />significant budget concern for many <br />governments and businesses across the <br />country. The Council took early action to sunset <br />benefits for new hires and adopted a funding <br />plan to address its obligation to future retirees. <br />Our Environmental Services and Regional <br />Administration Divisions are now "fully funded." <br />This means enough money has been set aside <br />to pay for future retiree benefits. In 2015, <br />$4 million will be drawn from OPEB assets <br />rather than expensed in division budgets. Metro <br />Transit is expected to be fully funded in 2018. <br />Expenses for retiree health costs are included <br />in "Salaries & Benefits" and the divisions are <br />reimbursed with a "Transfer From OPEB" under <br />"Other Sources and (Uses)". <br />Self Insurance <br />The Council began self-insuring its medical <br />plan benefit for employees and retirees in 2013. <br />The Council also began self-insuring its dental <br />plan in 2014. For additional information, see <br />Appendix F. <br />12 <br />