Fiscal 2023 DIF Account

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Must Read: Will the OPEB Ostriches Ever Run Out of Excuses?

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Last paragraph


As the economy emerges from the current pandemic uncertainties into a reliable growth phase, it’s time for the states, municipalities and public agencies that have short-sheeted their younger workers with hollow OPEB promises to finally pay the kitty. Medicare may get reformed, but it will never be free in the foreseeable future. Perhaps we’ll someday see a public option that provides Medicare access to early-out retirees and their former employers at cost (which is now about $1,000 monthly pre-65), but that’s hardly the free lunch that the OPEB ostriches are fantasizing. Public employees aged 40 and under should demand that their promised benefits be funded when earned, or go to work someplace where the leadership doesn’t feign belief in miracles and an alternative fiscal reality.



 

Comments

Anonymous said…
Maybe public employees should be in the social security system with everyone else. The public employee unions, however, don’t allow it and prefer the present-unfunded benefits because they are so superior to those in the dreaded private sector. Payroll taxes are for the little people.
June 30, 2022 at 7:46 AM
Anonymous said…
It took me almost two hours on the City's webpage but I found it. The estimate is the City owes over a BILLION dollars for Other Post Employment Benefits. That is more than the City budget.
June 30, 2022 at 2:12 PM
Anonymous said…
Since the fireworks are tonight at the airport I would wonder how many people are going to be finding out free parking is extended till September. Bet many people don’t know at all that airlines fly there. Worcester Airport is a very popular spot to watch the fireworks from as well and there used to be cops mentioning to people that parking was free as long as you left before midnight at the parking gates. Tonight they’ll be greeted by a sign saying free parking is extended till September 30th. If only the JetBlue flight left an hour earlier out of JFK, they could be giving themselves tons of free advertising as well to a lot of people since they would be flying in when the fireworks start or before that. Still a shame that there isn’t any advertising for any flights.

Spirit also announced that the vote has been delayed till July 8th for shareholders to pick what airline they want Spirit to be bought from.
June 30, 2022 at 2:36 PM
Anonymous said…
The is summary in the City budget which details City fixed costs. Pension costs are increasing by 2,582,077, Health insurance costs are increasing by 1,614,713 and OPEB Trust Deposit is decreasing by (5,728,648). Doe that make any sense?
July 1, 2022 at 3:07 AM
David Z. said…
Getting back to ORH, Bill did you see this Viewpoint from Lisa Wieland in the latest issue of the WBJournal?

https://www.wbjournal.com/article/viewpoint-airport-supports-worcesters-growth
July 2, 2022 at 10:36 AM
Anonymous said…
Today was probably one of the worst days ORH has had in a long time. I’m not sure if it’s because of pilot shortages, weather, etc. but today’s report is not good for departures. Flights to JFK: 1/3 depart on time (JetBlue AM), 2/3 cancelled. Flights from JFK to ORH: 1/2 on time (American), 1/2 cancelled. The third flight is scheduled to arrive on time. Flight to Fort Lauderdale cancelled, however the aircraft arrived on time from there. I’m not sure why the American flight got cancelled and I know it’s not because of the pilot shortage (the aircraft ended up going to Atlanta with crew only). JetBlue flight back down got cancelled potentially for weather but it’s unknown exactly why.

Also, JetBlue mid day flight from JFK is already cancelled for tomorrow as well. The aircraft that did the FLL flight today will be doing the mid day flight from ORH to JFK. Even though ORH hasn’t been cut any flights, we’ve definitely seen an impact because of the pilot shortage. Just sucks today for people wanting to go down to FLL to start their vacation in Florida for the week and now they have to go to another airport or wait another day (assuming that tomorrow’s flight isn’t sold out already)
July 2, 2022 at 12:41 PM
Rusty said…
Did you not see the weather today? Worcester was hammered with nasty Thunderstorms all afternoon. I’m frankly surprised any flights made it in at all. JFK & BOS had just as many issues. Just not a good day to fly in the northeast. Only reason the Midday JFK inbound is cancelled tomorrow is because they already have an extra plane sitting at ORH. Their going to use it to head back on the Midday JFK run. Just weather my friend. Almost 75% of all afternoon flights where delayed over 2hrs yesterday at Logan. JFK was getting hammered mid afternoon as well coincidentally when the AA & JB flights to JFK occur. Just thunderstorms. American probably couldn’t get a route release back into JFK with the weather so rather than leave the plane at ORH, they sent it elsewhere where it could continue to be used. JB knew better than to even try so they just outright cancelled the midday turn.
July 2, 2022 at 11:37 PM
Anonymous said…
JetBlue is expanding the A320 going to ORH into October for FLL, but it comes at a price. The flight starting September 7th leaves Fort Lauderdale at 355PM and arrives at ORH at 700PM. Then leaves ORH at 750PM and arrives to FLL at 1056PM. Starting October 30th, the JFK to ORH flight for the “mid-day” turn turns into an early evening. Leaves JFK at 255 arrives ORH 354. Then leaves ORH 430 arrives back 529. Now the JFK flight isn’t as bad as the delta flight especially since JFK has more flights offered than LGA but it’s still not the best. The FLL flight being moved loses a day of vacation but doesn’t give the consequence of kids having to miss school or parents having to miss work. Not sure if it’s a great move or not but we’ll see when the time comes. One thing that isn’t expected to change is American’s flight to JFK is suppose to stay a mid day turn which is still good for the airport. Interesting to see what happens in the coming months.
July 3, 2022 at 4:33 PM
Jeremy said…
At LaGuardia now, coming back to ORH. Where to send pics?
July 4, 2022 at 12:14 PM
Anonymous said…
I think post them on Twitter Jeremy at @flyorh
July 4, 2022 at 5:42 PM
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