Town of Dedham Commended for Paying Its Bills

The Managing Editor of the Boston Business Journal Craig Douglas, commended the town of Dedham in his blog for receiving a "pristine" AAA credit rating from Standard & Poor's. 

"Specifically, S&P heralded Dedham’s recent decision to fully fund its annual required contribution, or ARC, to pay for its retiree health care tab. To S&P’s point, this is huge, people," Douglas said.

Douglas went on to say that he is not aware of any other town or city that pays its ARC in full.

The ARC payment is the annual savings that's needed to fund health care "promises" made by the town to teachers, firefighters, policemen, town administrators and others when they retire.