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GASB 45

We've provided services to local agencies and governmental unions for over a century. Our dedication to working with public entities resulted in us becoming one of the first financial institutions to proactively provide a bundled solution for the Governmental Accounting Standing Board (GASB) Statement No. 45 requirements.

The statement requires that public employers account for, and report, the annual cost of Other Post-Employment Benefits (OPEB) and the outstanding obligations and commitments related to OPEB in generally the same manner which public employers account for and report pension obligations. We serve as the trustee and/or investment manager for governmental entity OPEB trusts throughout the nation, and have extensive experience working with attorneys, actuaries, third party administrators, investment managers and other entities involved with helping you address your GASB 45 requirements.

We have developed a bundled solution to ensure all of your GASB 45 needs are met. The solution includes:

  • Trust Administration and Sample Trust Language – Our sample trust language offers you the flexibility to service either a Section 115 or VEBA Trust
  • Investment Management – Open architecture allows your choice among internal and external investment managers, with oversight and coordination from a portfolio manager
  • Funding Options – Our Pooled Financing Program gives you a cost-effective funding source
  • Ancillary Revenue Opportunities – You might reduce funding costs by participating in our Securities Lending Program

Learn more about how Institutional Trust & Custody can meet your needs:

GASB 45
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