OPEB Trust Fund


The State Post-Retirement Benefits Trust Fund (OPEB Trust Fund) was created in fiscal year 2007 to fund the liability associated with Other Post-Employment Benefits obligations. The OPEB Trust Fund is invested by the Treasurer in a balanced, diversified portfolio of investments in order to generate the returns necessary to meet the Fund's future obligations.

The OPEB Trust Fund is administered by a board of trustees consisting of the State Treasurer, the Director of the Division of Finance, and the Director of the Governor's Office of Management and Budget. The board of trustees serves as fiduciary for the OPEB Trust Fund.

A study of the Fund's estimated liabilities is prepared for the board every two years by an actuarial consultant. The last actuarial report (dated December 31, 2012) detailed an actuarial liability of $408.7 million, plan assets of $150.1 million and an unfunded actuarial liability of $258.6 million. Historical market values of the OPEB Trust Fund's investments are shown below.