Other postemployment benefits

But they also are not interrupted by politics because, again, they don't get as politicized.

I know that when OPEB, the retiree medical benefits, became a really big deal about 20 years ago and cities had to start accounting for these liabilities and put them more prominently on their balance sheets, I remember hearing about...

I can't remember if it was either a small city or a special district where back in the 80s or 90s, some finance director said, you know... we're incurring an obligation by promising these retiree medical benefits.

We should put something aside.

Every day, everybody works so that when those people retire, we'll have the funding for their benefits, right? And so what a concept, right? You actually pay for the liability as you incur it.

Pay for the obligation as you incur it.

And so when Gatsby came around and pushed for the OPEB reporting, the retiring medical reporting, and now cities are scrambling and a lot of school districts who had put no money aside for any of this, and now all of a sudden they have to account for it and confront it on their balance sheets, right? But this organization that started early at being prudent And if you stay prudent for 10 or 20 years, now you're the status quo.

Now you're the inertia that's protected.