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Full-service OPEB liability prefunding

The OPEB 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 tool to diversify investments, earn a potentially higher rate of return than your general fund and ultimately lower your OPEB liability (per GASB 75).

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Overview

Funds placed into the program are considered assets on your district’s financial statements that address liability and are protected from diversion to other uses. This program gives districts local control of assets, providing you with the flexibility to make contributions as deemed appropriate and the ability to access and withdraw funds to pay for OPEB expenses at any time. 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.

Program Benefits

Benefits of the OPEB Solutions Program include:

Governmental Accounting Standards Board (GASB) 75 compliant
IRS-approved with exclusive Private Letter Ruling
PARS experience, over 20 years in OPEB trust administration and over 35 years in retirement solutions
Strong trustee, U.S. Bank, the fifth largest commercial bank in the nation
Dedicated senior-level 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!

Webinar: Creative Methods for Addressing OPEB Costs and other Liabilities| Recorded: May 23, 2019 |

About PARS

Public Agency Retirement Services (PARS) is a leader in custom and turn-key public agency and school district retirement programs. For over 35 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.

Contacts

PARS (Public Agency Retirement Services)
800.540.6369

Eric O’Leary, ext. 124
Dennis Yu, ext. 104
Ryan Nicasio, ext. 134
Rachael Sanders, ext. 121

CSBA (California School Boards Association)
800.266.3382

Nicole Delos Reyes, ext. 3275