County of San Benito Other Post-Employment Obligations (OPEB) Actuarial Valuation 2026-06-24
County Maintains PARS IRC 115 OPEB Trust
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Description
County of San Benito maintains an IRC Section 115 Irrevocable Trust with PARS to prefund retiree healthcare obligations on a tax-advantaged basis. The actuarial valuation recommends continuing to use the PARS trust to pay retiree healthcare costs and to fund the full actuarially determined contribution.
Contract Details
Vendor
PARS
Agency
Pacheco Storm Water District (San Benito), CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 24, 2026
Contract Term
Ongoing; IRC Section 115 Irrevocable Trust established prior to June 30, 2024 for OPEB prefunding
Renewal Info
Trust is irrevocable and ongoing; assets remain in the trust until all OPEB obligations are satisfied, with continued funding via the Actuarially Determined Contribution.
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