State Retiree Benefits Trust Fund lowers threshold for municipal participation

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The State Retiree Benefits Trust Fund last month reduced the threshold for municipalities to participate in state’s investment trust for other post-employment benefits (OPEB).
 
The State Retiree Benefits Trust Fund reduced the threshold for municipal participation from $250,000 to $100,000.
 
Legislation enacted in 2011 granted cities and towns the opportunity to invest funds set aside for their OPEB liability with the state fund, which includes all of the assets the state has set aside to fund its own OPEB liability. Municipalities are required to establish an OPEB trust and designate a custodian of the trust in order to invest in the State Retiree Benefits Trust Fund.
 
The threshold was lowered to make it easier for municipalities to take advantage of this investment option. Communities that join the state fund gain the investment advantages of a larger pool, while reducing their administrative burden.
 
To date, more than 50 cities, towns and other agencies have chosen to invest in the State Retiree Benefits Trust Fund.
 
For more information, visit www.mass.gov/srbtf/srbtf.