1. With our 2011-2012 school year payment, we will have $463,086.27 invested in our Fund 73 OPEB Trust Fund account. This amount is set-aside and should totally cover all past retiree vested benefits that are owed into the future years.
3. Another transfer of $77,430.21 into Fund 73 is also being made to cover unused HRA money which is owed to employees in the future as they use their HRA dollars. This also needs to be updated each year.
4. All current year retirees have received their early retirement stipends per their agreements, and this was booked in the 2011-2012 fiscal year, so there will be no liability created.
5. All active employees who requested Vacation or PTO payout have been paid according to Handbook language.
The Fund 73 Trust Fund is invested in a very conservative portfolio through Mid America A & R Solutions, Inc.