PARS OPEB Trust Program – Fastest Growing in New EnglandCategories: New England Developments,OPEB/GASB 45/75
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Since June, over 35 New England public entities have adopted the PARS OPEB Trust Program to efficiently prefund their retiree healthcare benefits. They join approximately 200 agencies nationwide with over $1 billion in trust assets that make up one of the largest OPEB trust programs in the country. The PARS OPEB Trust, a distinctive multiple-employer trust program, serves towns, cities, school districts, educational collaboratives, counties, colleges and special districts by offering flexible funding schedules and full-service, “turn-key” trust administration, trustee, compliance monitoring and investment management services.
With the upcoming GASB 75 requirement that moves OPEB liabilities onto balance sheets by 2017, public agencies benefit from the PARS OPEB prefunding vehicle that is ready to go without the time, expense and fiduciary risk demanded when managing your own individual trust. The PARS OPEB Trust Program has an IRS-approved trust and partner with the largest OPEB trustee in the country, U.S. Bank. With no minimum contributions, no mandated funding schedules and competitive, low cost investment options through U.S. Bank and Vanguard, it is not a surprise that the PARS OPEB Trust is the fastest growing OPEB trust program in New England.
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