Stiegman, Bennett Elected to Leadership Roles w/MACo OPEB Trust

The MACo OPEB Investment Trust has elected a new Chair and Vice Chair to its Board of Trustees, to continue its mission of offering a cost-effective option for local governments investing current assets toward their long term retiree health care costs.

At its recent fall quarterly meeting, Patricia Stiegman was elected to serve as Chair of the Board of Trustees. The Board meets regularly with investment advisors, auditors, and actuaries to help guide the Trust assets and strategies.

Patricia Stiegman is the Chief Financial Officer of St. Mary’s County Metropolitan Commission (MetCom).  Patricia advises on the overall MetCom operating and capital improvement budgets, oversees the annual audit, manages investment banking services, among other financial responsibilities.

Patricia is a business and finance professional with more than 30-years of government and private sector experience in both domestic and international assignments.  She has a Bachelors Degree in Business Administration with a concentration in Accounting and Finance.

Allegany County Administrator Jason Bennett, the outgoing Chair, will continue to serve in leadership, but in a new role as the Board’s Vice Chair.

The MACo Pooled OPEB Investment Trust Fund is a vehicle designed to help local governments invest current funds toward future obligations for retiree health insurance, a.k.a. “other post-employment benefits.” Recent accounting rule changes have highlighted these liabilities on government balance sheets, and many counties are amidst plans to save toward these future costs.

To learn more about the MACo OPEB Investment Trust, visit the MACo website. To learn more about whether the Trust may be a fit for your county, municipality, or government-funded entity, contact ex-officio trustee Michael Sanderson.

Michael Sanderson

Executive Director Maryland Association of Counties
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