PARS Brings Unique OPEB Trust Solution to MassachusettsCategories: Hot Sheets,New England Developments,OPEB/GASB 45/75
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.