On the one hand, the Governmental Accounting Standards Board (GASB) required local governments to publicly report their other post-employment benefit liabilities in 2006. But the cities were not funded to cover the shortfall in OPEB. Finally, as Pozen (2013) says, these bonds were almost always financed on a pay-as-you-go basis. On the other hand, changing health care obligations is much easier than pension. Because retirement is legally protected by the state constitution, restricting changing health care obligations is under pressure from public sector unions. (Pozen,