The new OPEB Solutions Program, formerly the GASB 45 Solutions Program, is a full-service GASB-compliant, IRS-approved trust program designed to help you safely and securely set aside funds to address and lower your Other Post Employment Benefits (OPEB) liability. Prefunding into a qualified trust such as the OPEB Solutions Program is considered “best practice” by the Government Finance Officers Association, and is a powerful way to quickly and easily get a hold of your OPEB obligations, lower risk, increase value and make your district’s money go the distance.
Product flier :
Funds placed into the program are considered assets on your district’s financial statements that offset liability (unlike assets held in the general fund), can be accessed at any time to address OPEB related costs, are protected from diversion to other uses, and remain under local control. Additionally, districts benefit from compounding interest on funds held in the trust (which are tax-exempt), and can diversify assets according to risk tolerance and performance goals to gain potentially greater interest earnings.
Benefits of the OPEB Solutions Program include:
- Governmental Accounting Standards Board (GASB) 45 & 75 compliant
- IRS-approved with exclusive Private Letter Ruling
- PARS experience, over 20 years in OPEB trust administration and over 30 years in retirement solutions
- Strong trustee, U.S. Bank, the fifth largest commercial bank in the nation
- Dedicated senior consulting and portfolio management
- Local control and investment flexibility of program assets
- Fast implementation and cost-effective
- No minimum fees or contributions
- Personalized customer service and program oversight to ensure districts' satisfaction
Contact our dedicated program staff listed below for more information about how you can take control of your OPEB obligations today!
Public Agency Retirement Services (PARS) is a leader in custom and turn-key public agency and school district retirement programs. For over 30 years, PARS has been the trusted source for retirement solutions that meet the unique needs of each individual public agency they serve. Known for their high-level of partnership and service as well as for the quality and security of their program designs, PARS fosters a collaborative and responsive relationship from consultation, design and analysis through implementation and administration.
ContactsPARS (Public Agency Retirement Services)
CSBA (California School Boards Association)
- Eric O’Leary, ext. 124
- Dennis Yu, ext. 104
- Ryan Nicasio, ext. 134
- Natasha Davidson, ext. 145