GreatGASB Solutions - GASB 43/45 Services

Actuarial Valuation. We will prepare an actuarial valuation in compliance with GASB Statement No. 45. The actuarial valuation will outline your "other postretirement benefit" (OPEB) obligation for eligible active employees and current retirees, along with related information like the Annual Required Contribution (ARC). The valuation will be based on employee and retiree census data you provide, and on the benefit descriptions you provide.

Alternative Method Actuarial Valuation. Governmental entities with fewer than 100 employees may be eligible for the alternative OPEB calculation. We have prepared a template to allow you to easily submit your plan provisions and data, which we will then use to calculate your OPEB obligations and Annual Required Contribution (ARC).

Plan Design, Funding and Liability Mitigation Consulting. Once the OPEB liability is determined, we will explore plan design options that best meet your long term goals. Exploring defined benefit plan modification alternatives, defined contribution alternatives, pay as you go and other financing alternatives, we will work with you to find the delicate balance between fiscal responsibility and protecting the integrity of the OPEB plan.

Pre-Funding Options. Pre-funding all or a portion of the OPEB liability can allow the governmental entity to allocate funds for future OPEB costs. This is often accomplished wih a trust vehicle, usually a Section 115 Integral Trust or a section 501(c)(9) VEBA Trust. If a trust is appropriate, we will provide the Trust Document and Adoption Agreement as a standard part of our package.

Integrated Enrollment, Eligibility, Billing and Claims Processing. Irrespective of whether the ultimate OPEB solution calls for the use of an Insurer, HMO, Self Funding or an HRA, we will provide an administrative solution that is linked, real time, to the investment option chosen, including a comprehensive reporting package.