Walsh reports retiree health insurance stipend program in excellent shape

COLDWATER, MI (WTVB) – Branch County Administrator Frank Walsh told the Board of Commissioners during their work session on Thursday that the county’s retiree health insurance stipend program is in excellent shape.

He noted the anticipated payout over the next 20 years will be about $350,000 and that the fund balance as of the end of 2024 was over $288,000.

That means the program will not require additional contributions over the next five years.

Walsh added in his report the county has a significant defined benefits plan with the Municipal Employees Retirement System and a matching Health Care Savings Program with MERS.

He felt the county’s defined benefit pension and other post employment benefits are in solid financial condition and that the only caveat is the challenging funding of the county’s courts and Sheriff’s deputies defined benefit plans.