Thinking of Setting up Your Own OPEB Trust? Think Again.Categories: New England Developments,OPEB/GASB 45/75
Is your OPEB trust compliant with Massachusetts’ new law which requires all OPEB trust funds to be in compliance with GASB Statement No. 45?
On August 8, 2016, Governor Charlie Barker signed into law H.4565, the Municipal Modernization Bill, which in part amends current language on governmental units creating OPEB trusts to now include compliance with GASB 45.
Public Agency Retirement Services (PARS) offers the only full service, “turn-key” OPEB trust solution in Massachusetts. In addition to signature-ready documents that are GASB compliant, IRS approved, and legally in adherence with state and federal law, PARS also provides ongoing document management and compliance monitoring services. Other providers offer investment management, but not trust administration and compliance monitoring.
The PARS OPEB Trust program also offers the lowest cost investment management fees for OPEB prefunding available — with economies of scale through investment pools by both Vanguard and U.S. Bank.
Join one of the fastest growing OPEB trust programs in New England and nationally with over 225+ cities, towns, school districts, special districts and colleges. Efficiently and responsibly prefund your OPEB liabilities through the PARS OPEB Trust Program today.