After years of funding pressure on the cost of OPEB benefits, the ongoing impact of the COVID-19 pandemic for state and local government means retiree health care benefits could become a target for deep budget cuts. Reducing benefits for valued retirees is a last resort and painful for all concerned, but there is another option. Laura Rich, executive officer for Nevada Public Employees' Benefits Program (PEBP), will discuss how PEBP used an innovative retiree health care approach to:
Reduce their annual retiree health care contribution by over $100 million per year
Save their retirees money and expand the range of available health care plans
Decrease their OPEB liability by nearly $900 million
Join this conversation to hear lessons learned from Nevada's PEBP and how those lessons will benefit your organization's benefits program during this unprecedented time.