12
Jun
2019

Houston Municipal Employees Pension System (HMEPS) adopts the PARS OPEB Trust Program

Categories: OPEB/GASB 45/75,PARS News,Texas Developments
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The Houston Municipal Employees Pension System (HMEPS) is the latest Texas organization to join over 300 public agencies nationwide in the IRS-approved PARS OPEB Trust Program. As one of the largest OPEB trusts in the country with over $1.9 billion in trust assets, this multiple-employer trust solution serves special districts, cities, towns, counties, school districts, and colleges.

Key features of our pioneering program include: 

  • Economies of scale, low investment fees, no start-up costs and no minimum contributions
  • Compliance with GASB 75 rules, in addition to state (Texas Public Funds Investment Act) and federal law
  • Low-cost investment options created specifically for OPEB prefunding
  • Access to funds at any time for retiree medical expenses
  • Full-service “turn-key” trust administration, trustee, compliance monitoring and investment management services that reduce burden on staff
  • Experience, support and expertise from the PARS team, a 20+ year veteran of OPEB trust administration