Officials outline a $42 million OPEB estimate and debate starter contributions

Brad Weissman and district consultants briefed the joint meeting on other post‑employment benefits (OPEB), reporting an actuary’s estimate of an unfunded liability of roughly $42 million as of June 30, 2021. The district currently budgets about $875,000 annually for retiree health premiums but contributes only about $25,000 to an OPEB trust for actuarial funding.

Consultants presented four 20‑year scenarios that would produce cumulative contributions from the two towns ranging about $2.3 million to $2.625 million over 20 years; depending on the model and timing of contributions that would yield a projected trust balance (and a funded‑percentage) rising modestly over the horizon. Officials emphasized these models are illustrative and sensitive to actuarial assumptions, investment returns and inflation.

Town representatives and finance committee members debated realistic starter amounts. Proposals discussed included small initial contributions (e.g., $30,000 for the district in year one), a $50,000 combined starter, and larger ramps suggested by some committee members; Millville noted it could consider $100,000 in year one using earmarked cannabis revenues, while a Blackstone representative urged coordination with town administrators before commitments.

Multiple members stressed that any ongoing contribution should not come from classroom operating dollars and that the funding mechanism (whether a separate OPEB line on the assessment or folded into the operating assessment) needs careful public explanation. Committee members agreed to run additional scenarios with the actuary and to present one or more starter options for town financial review before the March 10 public budget hearing and March 24 certification deadline.

No formal vote was taken; the group agreed to continue modeling and to have town administrators and finance committees assess feasibility prior to certification.