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8. OPEB Advance Funding <br />„� � .ri; ✓..:,� ;'�. N .,I � ^ 7 �` a'R .rY^r' .t -r' k � .4La. � s.1 i' _ (.r I gni, t., .� � i � h <br />'i •�.—„s'+- .+f:. Ar' ::i` ��: �a'�-;`,a .}rk •,�., °v. ..�i1 ..}�i^ r,`fi�'-9: �i L.'o� `ti „G ill. .�,.�r'�w;l yH��- 4 <br />• Accounting for Post Employment Benefits Other <br />than Retirement <br />• GASB Statement 45 — implemented in FY <br />2007/08 <br />• Recognizes cost of benefits when they are <br />earned <br />• Previously accounted on apay-as-you-go basis <br />• County established OPEB, Trust in FY 2007/08 <br />• This allowed for funding of OPEB, obligations <br />• County ended explicit subsidy for employees <br />hired after 2/1/06 <br />r <br />