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Date Posted: 07:48:31 03/09/13 Sat
Author: John Buczek
Subject: City Saves $$$$

MARLBOROUGH —

The Finance Committee on Monday night recommended the full City Council approve a $2 million transfer aimed at defraying the cost of the city's long-term liability for post-employment benefits for retirees, commonly referred to as OPEB.

If the council approves the transfer from the city’s undesignated account to its stabilization account, Marlborough will have saved $4 million toward OPEB liabilities, putting it in relatively good standing, city officials say.

Read more: Marlborough, other communities tackle unfunded liabilities - Marlborough, MA - Marlborough Enterprise http://www.metrowestdailynews.com/news/x898143280/Marlborough-other-communities-tackle-unfunded-liabilities#ixzz2N2vMmjqa

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