The San Marcos Unified School District is taking steps toward issuing bonds to finance its retiree health care obligations.
Those steps could lead the San Diego County school system to the issuance in 2009 of about $54 million of other post-employment benefit bonds, according to a report in the North County Times.
This week the school board voted to accept an updated actuarial study outlining its health insurance obligations, and enter into a benefit trust program administered by the California Public Employees’ Retirement System.
Next month, the board is expected to vote to file a validation action for the planned OPEB bond issue.
In recent years, the school district has capped its maximum contributions to retiree benefits and eliminated retiree health benefits for new and future hires, the report said.
