Agreement and Election to Prefund Other Post-employment Benefits Through CalPERS - California Employers' Retiree Benefit Trust Program ("cerbt") - California

Agreement and Election to Prefund Other Post-employment Benefits Through CalPERS - California Employers' Retiree Benefit Trust Program ("cerbt") is a legal document that was released by the California Public Employees' Retirement System - a government authority operating within California.

FAQ

Q: What is the California Employers' Retiree Benefit Trust Program (CERBT)?
A: The CERBT is a program in California that allows employers to prefund other post-employment benefits.

Q: What is CalPERS?
A: CalPERS stands for the California Public Employees' Retirement System, which administers retirement and health benefits for public employees in California.

Q: What does this agreement entail?
A: This agreement allows employers in California to prefund other post-employment benefits for their retirees through the CERBT program.

Q: Why would an employer choose to prefund other post-employment benefits?
A: Prefunding other post-employment benefits can provide financial stability and reduce long-term costs for employers.

Q: Who is eligible to participate in the CERBT program?
A: Public employers in California, including cities, counties, school districts, and special districts, are eligible to participate in the CERBT program.

Q: What are other post-employment benefits?
A: Other post-employment benefits (OPEB) refer to benefits, such as healthcare or life insurance, that are provided to retirees after they leave employment.

Q: Is participation in the CERBT program mandatory for employers?
A: No, participation in the CERBT program is voluntary for employers.

Q: What are the advantages of participating in the CERBT program?
A: Participating employers can benefit from lower investment costs, professional asset management, and reduced administrative burdens.

Q: Are there any specific requirements for employers participating in the CERBT program?
A: Employers must adopt a resolution authorizing participation in the CERBT program, contribute a minimum amount, and fulfill reporting obligations.

Q: How can employers contribute to the CERBT program?
A: Employers can contribute to the CERBT program through a lump-sum payment, installment payments, or a combination of both.