Other Post Employment Benefit Programs
The Government Accounting Standards Board (GASB) created Standards 43 and 45 to compel public employers to more accurately account for their long-term benefit promises to employees. These more transparent financial accounting standards also implicitly created the need for more effective management of Other Post Employment Benefit Programs (OPEBs) and how public employers fund these benefits.
Unfortunately, GASB only defined one step in the management process and one alternative among the many funding choices. As a result, public employers are left with the task of defining the process, the alternatives and the choices for managing OPEBs.
PFMAM helps public employers understand these choices, providing services that support administration of OPEBs.
Hover your mouse above the interactive graphic below to view details regarding each component.
With over 25 years of history serving the needs of public sector financial and management professionals, PFMAM understands the issues inherent in this multi-dimensional, interdisciplinary problem. From strategic planning, to budget and funding analysis, to account structure recommendations and asset management, PFMAM has specific experience and expertise in providing unbiased advice on which you can rely.
PFMAM offers a comprehensive, customizable, unbiased and cost-effective advisory planning and ongoing management service. The PFMAM OPEB Management Program combines the expertise of seasoned strategic consultants, financial advisors, and investment consultants. We provide thorough and rigorous solutions to the decision-making process, budget implications analysis, and ongoing investment management services to offer a comprehensive program for a full array of public entities.
The PFMAM OPEB Program offers:
- A thorough yet concise OPEB Management Report
- Decision-making and communication support
- Analysis of funding strategies and methods
- Budget implication scenario modeling for funding strategies and methods
- Account structure analysis
- Professional investment consulting
- Discretionary asset management
- Benefits administration
The PFM OPEB Program may be suitable for all types of public sector employers with emerging OPEB liabilities.
To find out more about how PFMAM can help meet your OPEB needs please call Jim Link at 215-567-6100 or email us at opeb@pfm.com.