Other Post Employment Benefits (or OPEB) are benefits (other than pensions) that U.S. state and local governments provide to their retired employees.
These benefits principally involve health care benefits, but also may include life insurance, disability, legal and other services.
The Town of Franklin has established an OPEB Trust Fund in order to invest the funds that are allocated by the Town Council in the annual operating budget and capital budget to help maximize the investment for employees. Additionally, by investing the funds, it help stake a small financial obligation off of the taxpayers to help leverage the best investments for the retirees.
The Town of Franklin has an official OPEB policy that was adopted by the Town Council.