Unfunded Accrual Liability Plan
The Village of North Branch has NO unfunded obligations toward post-employment pensions or healthcare for it’s employees. It has long been the policy of the Village to “pay-as-we-go” on all employee benefits, through defined contributions toward those obligations.
Having seen what unfunded accrued liabilities have done to the long term finances of cities, such as Detroit, we are even more committed to Never allow this to happen in our Village. That IS our plan.