Chesapeake OPEB (Other Post Employment Benefits) Finance Board

The Chesapeake OPEB Finance Board was established for the purpose of accumulating and investing assets to fund other post employment benefits, other than pensions in Article 8, Chapter 15, Title 15.2 (Sections 15.2-1544 et seq.) of the Code of Virginia of 1950, as amended (the “Virginia Code”).

The Board shall be composed of the city's finance director, the city treasurer, the city manager or designee, a representative of the city's financial advisor, and one citizen of the commonwealth with proven integrity, business ability, and demonstrated experience in cash management and in investments. The citizen member may be reappointed to the Board without limitation.
(Article 8, Chapter 15, Title 15.2 of the Code of Virginia of 1950, as amended (the “Virginia Code”) (City Code, Chapter 30 of the City Code)