Other Post Employment Benefit Obligations

Outside of pensions, the only Other Post Employment Benefit (OPEB) Belvedere offers its staff is retiree medical benefits through its contract with CalPERS Health Plan. Employees who retire directly from the City with at least five years of service can remain on the City's plan until Medicare age and receive a modest subsidy ($151 per month in 2023) towards their premiums. This subsidy continues beyond Medicare age to support supplemental insurance/out-of-pocket expenses. The City offers a more generous benefit to two of its retired City Managers, but this "City Manager" class is closed to new retirees.

The City does not pre-fund its OPEB obligations, which are modest and unlikely to strain the budget.