# Town of Fairfield Other Post-Employment Benefit Trust

Town of Fairfield Other Post-Employment Benefit Trust is a Trust / Investment Trust based in Fairfield, United States.

## Overview

- **Organization type:** Trust / Investment Trust
- **Headquarters:** Fairfield, United States
- **Region:** North America
- **Address:** Fairfield, CT, United States
- **Assets under management:** Undisclosed
- **Website:** fairfieldct.org

## Regulatory record

- **Reports private funds:** No

## About

The Town of Fairfield Other Post-Employment Benefit Trust (OPEB Trust) was established under Connecticut municipal law as a fiduciary component unit of the Town of Fairfield. It is governed by the Joint Retirement Investment Board (JRIB), with Bryan Cafferelli serving as chair and Eric Newman as a trustee. The trust funds post-employment benefits other than pensions — primarily retiree healthcare — for town employees. The trust pursues a diversified alternative-heavy portfolio including buyout, private credit, infrastructure, real estate, and hedge funds. Its allocation reflects the long-dated nature of OPEB liabilities, seeking inflation-protected returns through illiquid assets. Public records indicate the trust holds commitments across multiple private equity and real estate funds alongside direct co-investments. The trust operates without a disclosed AUM or full portfolio breakdown. It employs no dedicated internal investment professionals beyond the board-appointed trustees who oversee external managers. The trust coordinates closely with the Town of Fairfield's Employee Retirement Board and Finance Department. As a municipal OPEB trust, its structural differentiator lies in its obligation to match benefit payments spanning decades — a liability profile more akin to an insurance general account than a traditional pension. The trust's governance through the elected Joint Retirement Investment Board provides transparency and public accountability unusual among opaque OPEB vehicles nationally.

## Sectors

- Private Credit
- Infrastructure
- Real Estate
- Hedge Funds

## People

- Eric Newman — Trustee
- Bryan Cafferelli — Chair of the Joint Retirement Investment Board

## Questions

### Who governs the Town of Fairfield OPEB Trust?

The Joint Retirement Investment Board (JRIB) oversees the trust, with Bryan Cafferelli as chair and Eric Newman as a trustee. The JRIB operates under the Town of Fairfield Board of Finance.

### Is the trust's AUM disclosed?

No. The Town of Fairfield does not publicly report a standalone AUM figure for the OPEB trust. Total OPEB liabilities are reported in the town's Annual Comprehensive Financial Report.

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Last updated: 2026-06-03T20:00:00.000Z

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