OPEB - Private Sector

OPEB 101

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OPEB University

We've put together videos, white papers, and blog posts to help you better understand GASB 74, GASB 75, OPEB and other benefit topics for municipalities.

As Director of Operations at Odyssey Advisors Francis is excited to utilize a decade of industry experience to assist the Odyssey team in developing solutions to client problems in a complete and efficient manner.

Have questions related to OPEB?  I’d be more than happy to explain or clarify anything you are curious about.

- Francis Fraine, Actuarial Consultant

Actuarial Reports on 'real' liability of town

By Parker Elmore | May 2, 2017

On April 10, 2017, Parker Elmore met with Princeton, MA’s selectmen, advisory committee members, town treasurer, accountant, and Town Administrator, Nina Nazarian to discuss the Town’s OPEB obligations. Among the topics were GASB 45 and the upcoming need to implement GASB 75, OPEB Trusts (to fund or not to fund) and how to manage these long-term…

OPEB/GASB 75 Lunch & Learn

By Parker Elmore | May 2, 2017

You’re Invited To A Complimentary Lunch & Learn Seminar When: Wednesday, May 24, 2017 11:30 am – 1:30 pm Where: Sheraton Framingham Hotel & Conference Center 1657 Worcester Road, Framingham, MA 01707 (508) 270-1927 Please join us for a complimentary educational lunch on timely and trending OPEB topics (retiree healthcare liabilities) Complying with New GASB 75…

Changes to MGL Chapter 32B, Section 20 – OPEB Trust rules

By Parker Elmore | November 8, 2016

Changes effective November 7th As the sponsor of an OPEB Plan in Massachusetts, you’ve likely either begun pre-funding your liabilities or have considered doing so. The upcoming adoption of GASB 74/75 for your OPEB accounting will put further pressure on entities to consider funding these obligations. As you’re likely aware, the Commonwealth has provided legislation…

IRS webinar for the upcoming ACA reporting season – 10/20

By Parker Elmore | October 12, 2016

We heard from many of our governmental clients last year that the ACA reporting was complex, time consuming & difficult at best. Apparently, the IRS also heard your concerns and has scheduled a webinar for October 20th to better explain the rules and answers your questions. While we can’t guarantee the value of the information they will…

Omnibus spending bill to delay ACA Excise tax by 2 years

By Parker Elmore | December 16, 2015

2009 page omnibus spending bill has some good news on healthcare costs Congressional leaders agreed late last night, Tuesday, December 15, on an omnibus spending package for the balance of the 2016 fiscal year. While the 2009 page agreement includes various tax issues important to many employers such as making permanent R&D tax credits &…

The Cadillac Tax, your health plan and how it impacts you?

By Parker Elmore | September 10, 2015

Over 25% of employers expected to be hit in 2018 As an employer offering health insurance to your employees, I’m sure you’ve heard about the Affordable Care Act (“ACA”) and the upcoming Excise Tax in 2018.  According to a study from the Kaiser Family Foundation, they expect 26% of employers to be subject to the…

GASB 45, ACA & the “Excise Tax”

By Parker Elmore | April 2, 2014

Under the Patient Protection and Affordable Care Act (“PPACA”), an excise tax will be imposed for tax years beginning after December 31, 2017 for high cost employer sponsored health coverage. The law specifies a 40% excise tax to be paid by the provider of such coverage of the excess value beyond a basic dollar amount…

GASB 45 Compliance Made Easy

By Parker Elmore | October 31, 2013

Municipalities should never have to be burdened by the complexities associated with GASB 45. Here is a rundown of some principles to bear in mind. GASB 45 requires governmental organizations to report the long-term liabilities associated with OPEBs being offered to retirees. These do not include pension or deferred compensation plans. GASB 45 focuses on…

Municipal Issues

By Parker Elmore | July 18, 2013

Two of the largest issues facing municipalities today are underfunded pensions and unfunded “other” post-employment obligations (“OPEB “). Historically, public accounting rules have allowed these obligations to be largely hidden or less visible to investors and taxpayers. Change is being phased in through the introduction of new GASB standards that require municipalities to disclose the…