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OPEB Trust Annual Reports

OPEB stands for Other Post-Employment Benefits; these benefits include medical and dental insurance for pre-65 retirees and eligible dependents, a Medicare Supplement subsidy for post-65 retirees, and a small life insurance benefit. The OPEB Trust fund collects premiums from retirees and from an OPEB charge assessed to County departments. On December 31, 2012, the County discontinued OPEB benefits for anyone hired after January 1, 2013.  The County set up the OPEB Trust fund, an irrevocable trust, to finance the OPEB liability for employees hired prior to 2013.  The annual OPEB reports detail management of this trust.