OPEB

The Florida League of Cities administers the OPEB Trust to help municipalities manage post-employment benefits beyond pensions, such as retiree health, dental, vision, and prescription drug coverage.

Under GASB Statement No. 75, effective June 15, 2017, local governments must report OPEB liabilities on their balance sheets, similar to pension obligations. This includes both direct and implicit costs, like offering retirees access to group health plans at employer rates.