Santa Barbara County supervisors on Tuesday unanimously approved changes to how county employee pensions and retiree health benefits are funded, cutting the Other Post-Employment Benefits (OPEB) contribution rate from 4 percent to 1.5 percent of payroll.
The recommended update comes from county CEO Mona Miyasato and Budget Director Paul Clementi, who say the changes are needed to keep the county on a stable, predictable financial track.
“I think this is an opportunity for a little bit of a celebration,” said Supervisor Bob Nelson, explaining that past boards had not been as fiscally responsible and that he was proud this decision does not pass liabilities on to the next generation of elected board members. “I spend a lot of my time trying to educate people on how fiscally responsible this board is.”…