Wednesday, June 13, 2007

Grand Jury to CoCo County Supes: Wake Up!

By Kathleen Richards
Wed, Jun 13, 2007 at 4:55 PM

A grand jury report released yesterday under the subtle titled "Mayday, Mayday, Mayday! The County Drifts Ever Closer to the 'OPEB' Rocks" shows that Contra Costa County is facing a long-term debt of $2.6 billion as a result of its generous retiree benefits. The figure is based on the county's 8,400 employees and 5,200 retirees and their spouses (not including dependents) receiving health coverage. A CBS5 report reveals that employees of the county can retire at fifty, and 60 percent of the retirees older than 65 pay just one penny a month for health coverage. At this rate, the county may have to levy a stiff tax on shuffleboard and lawn bowling.

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