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Office of Human Resources and StrategicTalent Management

Your Resource to Excellence

Retiree Health Benefits & Other Post-Employment Benefits (OPEB)

Compliance with GASB 45 and OPEB Accounting Requirements –Retiree Health Benefits Funding and Reporting


Montgomery College is committed to providing a comprehensive benefits program for its employees – both during their active work years and in retirement. It is also committed to setting aside funds now to pay those benefits in the future.


A change in governmental accounting rules now requires the College to report how much it will cost each year to provide not just pension payments, but also health, life insurance, and other benefits in retirement for eligible employees. In addition to reporting the amount of the liability, the College has created a trust to set aside and invest the money to pay those costs. The College previously had been voluntarily abiding by an accounting standard that required a recognition of the liability and chose to set aside funds for these benefits.


The College operates with significant competition for limited resources and must balance the budget needs of our growing community with our commitment to provide comprehensive benefits to both our active employees and retirees. While we cannot guarantee there will never be changes to our benefits offering, we can promise an honest and transparent dialogue and partnership with our employees and retirees to identify solutions to meet the budget challenges we are sure to face.




Some of these links are provided by Montgomery County Government. The information is relevant and does apply to the College as well.


Montgomery College

Montgomery County, MD


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