OPEB

A man and a woman reviewing Medicare Advantage Plans

Wading through all of the insurance plans out there can be overwhelming. Have you seen the Joe Namath commercials yet where he hypes up all the benefits of Medicare Advantage? With so many options, Medicare Advantage is a phrase you hear more often than the rest. Mainly because of how it’s funded.   What is Medicare…

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Close up of a man's hands who is dressed in a business suit. His hand has stopped a line of falling blocks from hitting the rest of the blocks still standing.

As we try to bestow good tidings and wishes onto 2021, we must also weather the aftershocks of 2020 which include a very prevalent global pandemic. According to an article by Pew Trusts, many states are facing budgetary shortfalls due to a loss in revenues coupled with the increasing demand for public health and other…

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2020 OPEB Trend Report

Our OPEB experts gathered the data and crunched the numbers to bring you our annual year-end OPEB Trend Report. The latests trends include insights on OPEB funding, municipal bond rates and GASB 74/75 discount rates. Download the report to discover the latest OPEB trends. Learn more about the Odyssey Advisors team.

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Man reading a newspaper and text reading, "Featured in the Webster Times"

Odyssey Advisors was recently featured in a Webster Times article, “Webster selectmen OK single tax rate”. We met with the Board of Selectmen of Webster, MA to discuss the details of their OPEB audit. You can read more about it on the link above.

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5 people standing in front of mountain views holding their hands up

So, it’s time for another OPEB valuation under GASB 75 and the actuary is asking for the “covered employee payroll” for the fiscal year or measurement period. While OPEB benefits are rarely impacted by compensation or covered employee payroll, such a figure is a required disclosure item under GASB 75 and hence that’s why you’re…

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Legal retail sale of marijuana in Massachusetts is fast approaching and many towns are reviewing whether or not to have a local store. Regardless of your personal views on the legalization, this presents a unique opportunity to help with your OPEB costs. In addition to the sales and state excise taxes, cities and towns will…

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The Wall Street Journal recently published an article about the impact of GASB 75 on municipal balance sheets . The estimated nationwide impact will be a $645 billion increase in balance sheet liabilities. The increased attention that GASB 75 brings to Other Post-Employment Benefits (“OPEB”) will lead to increased pressure on municipalities across the country to manage OPEB liabilities. The…

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