VACo/VML Pooled OPEB Trust – Board & Participants

By resolutions unanimously adopted by the Boards of Directors of VML and VACo in 2008, the two organizations called for the creation of a pooled trust fund to assist Virginia local governments in funding their Other Post Employment Benefits (OPEB) pursuant to GASB Statement 45. Subsequently, the VACo/VML Pooled OPEB Trust was created under the joint exercise of powers of two founding localities: Fairfax County and Henrico County. Since its founding, a number of additional local governments, school divisions, authorities, and other governmental entities have adopted agreements to join the Trust as well.

The Trust is governed by a Board of Trustees comprised of at least five (5) but not more than nine (9) members. By agreement, the two founding localities are entitled to representation on the Board until the 2014 Annual Meeting. All other members are elected by participants in the Pooled Trust, whose votes are generally weighted according to each Participating Employer’s percentage of total Trust Fund assets. The Board of Trustees is responsible for managing Trust Fund assets through the appointment and oversight of investment managers and with the guidance of an investment advisor.

VACo/VML Pooled OPEB Trust Fund Participants

Alexandria City Public Schools
Chesapeake Public Schools
Chesterfield County
Chesterfield County Public Schools
City of Roanoke
City of Salem
City of Suffolk
City of Virginia Beach
Fairfax County
Fairfax County Public Schools
Fauquier County & Public Schools
Fluvanna County
Health Care Commission of Chesterfield County
Henrico County
Henry County
Henry County Public Service Authority
Henry County Schools
Henry County/Martinsville Social Services
Loudoun County
Newport News Redevelopment & Housing Authority
Rappahannock Area Community Services Board
Richmond Metropolitan Authority
Roanoke County
Salem City Schools
Southeastern Cooperative Educational Programs
Stafford County
Stafford County Public Schools
Staunton City & Public Schools
Suffolk Public Schools
Town of Blacksburg
Town of Leesburg
Virginia Beach City Public Schools