Ohio Community Pooled Annuity Trust

The Ohio Community Pooled Annuity Trust

The Ohio Community Pooled Annuity Trust, a first party trust,  is available to disabled residents of Ohio.

The Disability Foundation acts as Distribution Trustee over the Ohio Community Pooled Annuity Trust (OCPAT)’, authorized by 42 USC Section 1396p(d)(4)(C), Ohio Revised Code Annotated Section 5111.151(F)(3), and Ohio Administrative Code Section 5101: 1 39 27.1(C)(3)(c): federal and Ohio laws. The OCPAT provides a financial plan for supplemental needs (as defined in Ohio Admin Code 5123:2-18-01) without causing loss of Medicaid and SSI benefits.

Through the Ohio Community Pooled Annuity Trust (OCPAT), individuals with disabilities, and their families, can establish an account that will provide a lifetime plan of payments backed by The Dayton Foundation.   When a family sets up an account in this trust, an annuity calculation is completed, and a monthly benefit determined.  Each month that amount is credited to the individual’s spending account. A major advantage of this Trust is that the monthly benefit is guaranteed for the life of the individual.

Once the Annuity Trust (OCPAT) is initiated, the Personal Representative is given a Request for Distribution form, on a quarterly basis, asking if the trust recipient requires any supplemental need distributions to be made. The office processes the request; the Distribution committee approves the request; and a check is mailed out to the specified vendor or Personal Representative to acquire that supplemental need.

There are no set up or annual fees associated with the Pooled Annuity Trust.  An administrative fee is taken from the Pool; however, no fees are attached to any individual trust.  There is a $5,000 recommended minimum investment for the initiation of an annuity through The Disability Foundation.

For additional information on establishing an annuity pooled trust with The Disability Foundation, please contact Greg Darling, Executive Director, at (937) 225-9939; or by mail at The Disability Foundation, 1401 S. Main St., Suite 100, Dayton, OH 45409; or by email gdarling@daytonfoundation.org.