GASB Reports (OPEB): Employees
for both state and local governments may be compensated in a variety of
ways. In addition to a salary, employees often receive other benefits
such as health, life, and dental insurance. Similar to a pension, some
governments offer these benefits after the employee retires. These are
referred to as Other Post-Employment Benefits, or OPEBS. Regardless of
whether these benefits are paid during active service or retirement, they are
still considered compensation. For Westford, OPEBs only include health
and life insurance since the town does not contribute towards dental benefits. The
required reports below were provided by the town’s actuary, Odyssey
Advisors. As of June 30th, 2021, the town has a net OPEB
liability of $75,648,116..