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Carson City OPEB trustees approve 2025 earnings and activity reports, set Nov. 19 meeting
Summary
The Carson City Other Post Employment Benefits (OPEB) Trust Fund Board of Trustees on Aug. 13 approved the fund's 2025 earnings and activity reports, heard financial details from the CFO and scheduled the next quarterly meeting for Nov. 19, 2025.
Carson City OPEB Trust Fund Board of Trustees on Wednesday, Aug. 13, 2025 approved the fund's 2025 earnings and activity reports and agreed to meet next on Nov. 19, 2025, the board chair said.
The approvals came after Sherry Russell Benebou, Carson City chief financial officer, presented preliminary financial figures for the fiscal year and explained timing issues affecting deposits and member premium payments. "Our earnings report is looking pretty good this year. It's, exactly almost exactly the same as last year," Russell Benebou said, adding the fund recorded total earnings of $489,881.37 for the year.
The earnings summary showed $114,669 in interest earnings, $373,074 in gains and losses and $11.64 in fees from RBF (as reported by the CFO). Russell Benebou said the Carson City investment pool operating amount, after a fair market value adjustment, was $3,302.02 but noted that figure was not yet finalized pending the audited statement. "This is not quite finalized. We were waiting for the statement," she said.
On plan activity, Russell Benebou told trustees the books had not yet fully closed and that timing of retirements and enrollments creates monthly variances. She said the board received an $800,000 deposit that consisted of a $400,000 payment that had been delayed from fiscal 2024 (deposited about July 2) and a separate $400,000 deposit for the current year. The CFO reported total cash of $5,000,001.79 as of June 30 and noted a small amount of deferred revenue representing one member who paid premiums early for July through September.
Trustees approved the minutes from the May 28, 2025 meeting and then unanimously approved the earnings and activity reports as presented. Chair Raiser, Vice Chair Ganger and Trustee Fisher voted "aye" on each motion (motions carried unanimously). The meeting record does not show individual speakers making the motions by full name.
The board discussed possible November meeting dates and, by consensus during the discussion, set the next quarterly meeting for Wednesday, Nov. 19, 2025, at 1:30 p.m. The public provided no comments during the meeting, and the chair adjourned the session at the conclusion of business.
