Stephanie Brien's story in today's paper about city retiree's health benefits is quite good. The gist:
The City of Racine currently spends about a sixth of its tax levy to pay for annual retiree health benefits, but a recent analysis found the city would have to spend half of its tax levy on those benefits to adequately prepare for the future.
The city would not be liable for future retiree health benefits if it were able to put an additional $15.25 million per year in revenue in its coffers, according to an analysis dated Aug. 8.
Brien points out the additional spending on health benefits would equal half of what the city raises in property taxes every year. That's not good.
I think we all need to look at this a little closer.
