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TriMet must solve money and safety problems

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Wednesday, January 29, 2014

A state audit shows the public transit agency's major issues revolve around low employee morale, maintenance safety and unfunded financial obligations.

"The most serious and looming concerns are the health benefit costs of employees, and the $852 million unfunded liability to pay these benefits for current and future retirees, as well as their beneficiaries. TriMet also needs to fund an additional $274 million liability to pay retirees in its defined benefit plans, now closed to new hires," reads the audit, which was released by the Oregon Secretary of State's Office on Wednesday.

Read more at Portland Tribune

 

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