1 / 4

OPEB Investment Policy, UM

OPEB Investment Policy, UM. University of Missouri System Board of Curators July 22, 2011 FINANCE COMMITTEE. 3b. OPEB Investment Policy.

ghada
Download Presentation

OPEB Investment Policy, UM

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. OPEB Investment Policy, UM University of Missouri System Board of Curators July 22, 2011 FINANCE COMMITTEE 3b

  2. OPEB Investment Policy • The University's Other Postemployment Benefits (OPEB) include the medical, dental, long term disability and various other insurance benefits available to its retirees, former employees and their dependents in amounts and under the conditions described in the University’s respective benefit plans excluding the University’s pension plan. 3c

  3. OPEB Investment Policy • Largely in response to accounting pronouncements issued by the Governmental Accounting Standards Board, the OPEB Plan Trust Fund (“the Trust”) was established in 2008. • When the Trust was initially funded in 2008, the financial markets were in turmoil. As such, the funds were conservatively invested in cash equivalents. • The Trust totaled $39 million at June 30, 2011 and is not expected to grow significantly beyond current levels. 3d

  4. OPEB Investment Policy • With the markets having recovered most of what had been lost since 2008, staff recommends moving forward with full investment of Trust Funds. • The investment objective is to broadly mirror the overall asset allocation targets of the Retirement plan, recognizing that the Trust can’t exactly replicate Retirement plan holdings due to the relatively small size of Trust. • An investment policy governing investment of Trust assets has been proposed for Board approval. 3e

More Related