16
Oct
2014

PARS Brings Unique OPEB Trust Solution to Massachusetts

Categories: Hot Sheets,New England Developments,OPEB/GASB 45/75
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Massachusetts municipalities and school districts can now join one of the largest and most successful OPEB trusts in the nation, with 140 public entities and $850 million of assets and growing.

Our GASB-45 compliant, IRS-approved trust program combines the economies of scale of a multiple-employer trust with the local control of administering your own trust.

The PARS-U.S. Bank OPEB Trust Program offers these key advantages:

  • Significant savings from economies of scale of a large trust
  • No upfront or start up costs and fees
  • Fees that decrease as assets grow
  • No minimum contribution
  • No funding requirements
  • Quick implementation – in days not months
  • Ability to terminate in as little as 30 days
  • Multiple investment strategies and pools designed for OPEB investing
  • Low-cost investment options
  • Vetted for compliance with state law by our Massachusetts attorneys
  • Designed to meet GASB 45 and state requirements – free from creditors, irrevocable
  • Signature ready trust and plan documents
  • Protections of IRS Private Letter Ruling from day one of funding
  • New England-based service team
  • Individualized attention from dedicated client service coordinator and portfolio manager
  • Designed for use for municipalities, school districts, and special districts, regardless of size

Why go through the involved process of setting-up your own OPEB trust? Our well established program is as simple and cost effective as possible for you. Avoid high cost asset management, increased risks, and legal and start-up fees of running your own trust. Avoid the mandates and controls of a state-run option.

For more information on the PARS-U.S. Bank OPEB Trust Program call Maureen Toal at 800.540.6369 x 135 or Kate Cannie at 844.540.OPEB (6732) or at 617.549.6555.

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