What is OPEB and what is an OPEB trust?

OPEB stands for Other Postemployment Benefits and includes all benefits, other than pensions, that employers provide to retired workers, such as healthcare of life insurance. Political subdivisions and other public entities in Minnesota that have OPEB liabilities have authority to create trusts to set aside money to pay postemployment benefits. An OPEB trust may be revocable or irrevocable.