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Other Postemployment Benefit (OPEB) Plans
The state administers the State Employee Other Postemployment Benefit Plan through
the State Post–Retirement Benefits Trust Fund, an irrevocable trust fund created in April 2007.
A separate Elected Official Other Postemployment Benefit Plan is provided for governors and legislators, and this plan is administered through the Elected Official Post-Retirement Benefits Trust Fund.
Both trust funds are irrevocable and legally protected from creditors.
The state legislature currently plans to contribute amounts to each trust fund that, at a minimum, is sufficient to fully fund the Actuarially Determined Contribution (ADC), an actuarially determined rate in accordance with the parameters of GASB statement 75 .