Nov
2016
Plymouth County OPEB Trust Program – Designed for YOUR Needs
Categories: New England Developments,OPEB/GASB 45/75
In addition to serving Plymouth County, the Plymouth County OPEB Trust Program (PCOT) is an OPEB prefunding solution for three other counties in Southeastern Massachusetts – Bristol, Barnstable and Norfolk. Established collaboratively between Public Agency Retirement Services (PARS), Plymouth County, and Plymouth County Treasurer, Thomas O’Brien, PCOT is one of the nation’s fastest growing programs for prefunding retiree healthcare or “OPEB” liabilities.
As the only full-service OPEB Trust solution in Massachusetts, PCOT combines trust administration, trustee, custodian, compliance and investment management services in one comprehensive program. PCOT also offers a simple, effective way to relieve the burden on resources and staff. With an IRS-approved, multiple-employer trust structure, member entities benefit from economies of scale and avoid the time and costs associated with trust development and document preparation.
Key advantages of the PARS program include:
- Low-cost investment option developed exclusively for PCOT member entities and overseen by a dedicated PCOT investment committee
- Compliance with OPEB trust provisions in the new MA municipal modernization law, GASB 45 (soon to be GASB 75) and IRS rules
- Security of assets provided by one of the nation’s largest OPEB trustee’s and 5th largest bank, U.S. Bank
- No start up fees, minimum contribution or funding requirements
- Full administrative support from one of the largest and most experienced OPEB trust administrators in the nation, PARS
Start lowering your OPEB liability today by joining the only trust program designed specifically for municipalities, special districts and regional school districts in your county.
For more information on PCOT, please contact:
Kathryn Cannie, PARS Senior Consultant
(617) 549-6555 (cell) | kcannie@pars.org
or
Thomas O’Brien, Plymouth County Treasurer
(508) 830-9130 | tobrien@plymouthcounty-ma.org