Aug
2016
OPEB Prefunding from Coast to Coast
Categories: New England Developments,OPEB/GASB 45/75
During the last 12 months, 58 public agencies decisively started prefunding their OPEB liabilities with the comprehensive and economically sound PARS OPEB Trust Program. Today, the program is one of the largest OPEB trust programs in the nation, with over $1 billion in assets under management and a client list that comprises of towns, cities, school districts, special districts and colleges. Offered in 14 states spanning from Massachusetts to California, the PARS OPEB Trust brings a flexible and full-service OPEB prefunding solution that is designed to meet the individual needs of local government agencies nationwide.
Key advantages of the PARS program include:
- Unique program structure that combines trust administration, trustee and investment management services together in one low-cost approach
- IRS-approved Trust with Private Letter Ruling that protects all member agencies
- Program compliance with GASB 45 and 75, IRS rules, and state and federal laws
- Variety of investment choices ranging in risk tolerance level offered by U.S. Bank and Vanguard
- No upfront/start up costs or required contribution amounts
- Legal, administrative and investment economies of scale that lower costs and burdens on staff
- Security and protection from highly experienced program providers that include PARS,U.S. Bank and Vanguard
If you wish to learn more about how one of the fastest growing OPEB trusts in the nation can help your agency address future post employment benefit costs and long-term OPEB liabilities, contact our Massachusetts-based Consultants today.
Maureen Toal, PARS Senior Vice President | 844.540.6732 | mtoal@pars.org
Kathryn Cannie, PARS Senior Consultant | 617.549-6555 | kcannie@pars.org