Section 115 Trust

No private interests will participate in or benefit from the operation of trust other than as providers of goods or services.

Section 115 trust. Statement 75 for opeb liabilities. A 115 trust is a vehicle for segregating agency funds from general assets for the purpose of funding essential governmental functions. Section 115 trust gasb s reporting interpretation lsl cpas section 115 trust gasb s reporting interpretation many local governments are trying to get ahead of their pension unfunded liabilities and the forever moving target due to future rate increase.

Fully ve ed trust documents ready for your signature. Substantial confusion exists about whether the assets of an internal revenue code section 115 trust created to fund pension or opeb retiree health obligations may be used to offset the overall pension or opeb liabilities that public employers are required to report under government accounting standards board statements statement 68 for pension liabilities. For example a 115 trust can be used to set aside monies to meet future pension contributions or liabilities.

Statement 75 for opeb liabilities. Substantially all of the activities of which consist of the ownership leasing and operation by such corporation of facilities equipment and other property used by the corporation or other persons for railroad transportation and for economic development purposes for the benefit of the state and its citizens then to the extent such activities are of a type which are an essential governmental function within the meaning of section 115 of the internal revenue code of 1986 income derived. Together we create guidelines for asset allocation funding and asset migration.

Pfm executes agreed upon strategy. 1 in addition to the multiple employer section 115 trust described in this document pfm also offers a traditional single employer section 115 trust option. In order for a government entity to receive a determination of its status as a political subdivision instrumentality of government or whether its revenue is exempt under internal revenue code section 115 it must obtain a letter ruling by following the procedures specified in revenue procedure 2018 1 or its successor.

Pars first of its kind section 115 pension funding trust now offered nationally public agency retirement services pars is excited to announce the expansion of its unique irs approved section 115 pension rate stabilization program across the country. The trust s income accrues to its participating employers all of which are political subdivisions of a state or entities the income of which is excludable from gross income under irc section 115.