Public other post-employment benefits, or OPEB, are retirement benefits other than pension payments, mostly medical coverage. These liabilities are much smaller relative to general pension costs, but are growing. Due to relatively small balances, many states and municipalities use a pay-as-you-go policy and don't maintain ongoing trusts to cover future liabilities.
Sources: Bloomberg LP; Merritt Research Services; National Association of State Retirement Administrators; Standard & Poor's; U.S. Census Bureau
Compiled and designed by Charles McGrath and Gregg A. Runburg