Carson City OPEB Trust Reports $173,721 Earnings Amid Market Volatility

The Carson City Other Post Employment Benefits (OPEB) Trust Fund Board of Trustees convened on May 28, 2025, to discuss the financial status and performance of the trust fund. The meeting highlighted key financial figures and the ongoing challenges faced by the fund.

As of March 31, 2025, the trust fund reported a cash balance of approximately $4.4 million. The board unanimously approved the OPEB trust activity as presented, indicating a consensus on the current financial management.

Chief Financial Officer Sherry Russell Banaboo provided an update on the earnings report for the third quarter of fiscal year 2025. She noted that the interest earnings from the Carson City investment pool were modest, totaling $1,741.44. However, the Retirement Benefits Investment Fund (RBIF), which holds the bulk of the trust's savings, generated significantly higher earnings of $81,000,776.16. After accounting for gains and losses, which amounted to $91,079.51, and fees of $875, the total earnings for the quarter reached $173,721.64. This reflects a return on investment (ROI) of 3.9%, consistent with the previous quarter but notably lower than the 10.9% ROI reported during the same period last year.

Banaboo acknowledged the volatility in the market, particularly referencing a significant loss in March, which contributed to the lower overall performance compared to the previous year. The board's discussions underscored the importance of monitoring these fluctuations as they continue to manage the trust fund's assets.

The meeting concluded without further questions or discussions, and the board remains focused on ensuring the financial health of the OPEB trust in the face of ongoing economic challenges.