OPEB Trust Board

Other Post-Employment Benefits (OPEB) consist of healthcare and life insurance benefits for Town of Greenwich retirees. In 2004, the Governmental Accounting Standards Board issued Statements requiring municipal governments to account for Other Post-Employment Benefits in a manner similar to that of pension benefits. Accordingly, the Board of Estimate and Taxation decided to appropriate money to fund OPEB payments, and thereby established the OPEB Trust. The Trust was established and is governed in accordance with the Declaration of Trust effective January 1, 2008. The Trustee of the Trust is the Town's Treasurer. A three-member board appointed by the BET is responsible for making investment recommendations to the BET. The Board reports to the BET through the Investment Advisory Committee.