# St. Mary's County OPEB Trust (OPEB)

St. Mary's County OPEB Trust (OPEB) is a Pension Fund based in Leonardtown, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Leonardtown, United States
- **Region:** North America
- **Address:** Leonardtown, MD, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The St. Mary's County OPEB Trust was established to prefund other post-employment benefits (OPEB) for county government retirees. Led by County Administrator David Weiskopf as chair, the trust board includes CFO Vanetta Van Cleave, HR Director Catherine Pratson, County Commissioner Scott Ostrow, community member John Walters, and plan administrator Joy Sapp. The trust operates under Maryland's pooled investment vehicle for counties. Its strategy emphasizes diversified, liability-driven investing across equities, fixed income, real assets, and alternative strategies. The trust holds a Retiree Benefit Trust Portfolio in Leonardtown. It participates in the Maryland Association of Counties (MACo) Pooled OPEB Trust, which aggregates contributions from counties to achieve scale and lower fees. No specific portfolio companies or deals are publicly disclosed. The trust does not disclose total AUM or annual deployment figures. Mary's County's retiree headcount and benefit obligations. The board meets periodically to review performance and asset allocation, with administrative support from the county finance team. No external investment advisor has been publicly named. The trust's structural differentiator is its reliance on a pooled municipal investment framework rather than standalone management. This approach reduces operational overhead but limits direct control over asset selection. Succession is governed by county board appointments, providing continuity through local government cycles.

## Sectors

- Healthcare Services
- Infrastructure
- Private Credit
- Real Estate

## People

- David Weiskopf — County Administrator and Chair of the OPEB Trust Board
- Vanetta Van Cleave — Chief Financial Officer and Trustee
- Catherine Pratson — Human Resources Director and Trustee
- Scott Ostrow — County Commissioner and Trustee
- John Walters — Community Member and Trustee
- Joy Sapp — Plan Administrator for the OPEB Trust

## Questions

### Who makes investment decisions for the St. Mary's County OPEB Trust?

Investment decisions are made by the OPEB Trust Board, chaired by County Administrator David Weiskopf. The board includes Vanetta Van Cleave (CFO), Catherine Pratson (HR Director), Scott Ostrow (County Commissioner), John Walters (community member), and Joy Sapp (Plan Administrator). They oversee allocation within the MACo pooled investment framework.

### What is the MACo Pooled OPEB Trust?

The Maryland Association of Counties (MACo) Pooled OPEB Trust is a collective investment vehicle that allows Maryland counties to pool their retiree health benefit funds for greater efficiency and lower costs. St. Mary's County participates in this trust as a member county, contributing annually to prefund retiree benefits.

### Does the OPEB Trust disclose its AUM or portfolio holdings?

No, the St. Mary's County OPEB Trust does not publicly disclose its total AUM or specific portfolio holdings. The trust's size is tied to county retiree obligations and investment returns, but no public financial statements are available.

### How is the OPEB Trust governed?

The trust is governed by a board composed of county officials and a community member, with David Weiskopf as chair. The board sets investment policy, reviews performance, and approves contributions. Administrative support comes from the county's finance and HR departments, and the trust operates under Maryland's pooled OPEB program.

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Last updated: 2026-08-11T02:43:31.692Z

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