Prefund Your Agency’s OPEB Liabilities Today with Texas’ Most Experienced Full-Service Provider
The start of the year is a time to restart the budgeting process. As you start to look at your 2020/21 finances, once highly recommended course of action
The City of Cedar Park decided to enhance their retiree medical benefits as part of broader strategic goals to attract and retain a qualified workforce. Along with these enhancements, the City planned to create a trust to serve as a funding mechanism to offset the unfunded OPEB liability. Doing their due diligence in researching the best way to create a single-employer OPEB trust, the City was discovering it difficult to find the assistance they needed. It was at this point they learned about the PARS OPEB Trust Program, an IRS-approved multiple-employer trust solution.read more...
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.read more...
Prefunding retiree healthcare (OPEB) benefits through a legally compliant trust can help entities lower long-term OPEB liabilities, preserve positive credit ratings and generate investment income through diversified investing. But these benefits can only be realized if the OPEB trust
With GASB Statement 75 going into effect in 2018, it made significant changes to retiree healthcare (OPEB) reporting standards by requiring public agencies to recognize their OPEB liability as a line-item on the balance sheet (rather than only a