Other Post-Employment Benefits (OPEB) refer to financial obligations or commitments by an employer to provide medical coverage or other benefits to retired employees, their dependents, and beneficiaries. These benefits can include health insurance, dental insurance, vision insurance, life insurance, and long-term care insurance.
OPEB is important because it provides financial security for retirees and their families. It can help them to cover the costs of healthcare, which can be significant in retirement. OPEB can also help to attract and retain employees, as it is a valuable benefit that can make a company more competitive in the job market.
