Reduce Your GASB Liabilities

Other Post Employment Benefit (OPEB) obligations now aim directly at the bottom line for California public agencies. Eighty five percent of California cities have OPEB liabilities and, on average, less than 5% is funded. These net GASB 74/75 liabilities loom menacingly over municipal solvency.

Pension and OPEB Solutions

It’s time to proactively reduce retiree health benefits liability, supporting mutually beneficial solutions for employees, retirees and your agency.

 

FuturisKeenan, through the Futuris program, has created the most comprehensive solution to help you address your retiree health care liabilities and comply with GASB 74/75 requirements.

The unique structure of Futuris provides for a Retirement System, which is the only arrangement that allows for investment in equities to generate growth in the trust account. Our investment, research and commitment to work with best-of-breed service providers over the past decade, make Futuris the premier GASB 74/75 program.

 

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MuniMET is an affordable solution for smaller public agencies to reduce their unfunded retiree health care liabilities and achieve competitive rates of return.

MuniMET is a turnkey prefunding solution for your GASB 74/75 obligations using a multiple employer trust model to keep expenses low and streamline your administration. Combining resources with a proven program structure, MuniMET delivers better rates of return on invested funds than competitive programs.

 

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Futuris Care is a comprehensive approach to controlling retiree liabilities, enhancing access to Medicare plans and providing useful resources for seniors and their families.

Futuris Care provides access to a Medicare Exchange that:

  • Offers retirees more plan choices
  • Easily demonstrates differences in plans based on your retirees’ needs
  • Typically results in cost savings of $1,000 per year per retiree
  • Provides access to retiree advocates and benefit advisors to optimize choices and avoid any provider disruption
  • Ensures guaranteed issue pricing regardless of health status and plan selection.

Don’t forget about GASB 68

GASB 68 requires agencies to include the liability for pension obligations on your balance sheet. This can significantly impact the solvency of an agency and your only options are to pay down the liability or prefund into a trust.

 

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Keenan’s Pension Stabilization Trust is a Section 115 IRS-compliant trust designed to mitigate long-term pension volatility while providing local control and investment flexibility. Our solution works because:

  • Trust assets offset unfunded pension liabilities
  • Proprietary risk assessment maximizes return and minimizes risk
  • Assets are available at any time to pay pension obligation and offset unexpected increases