Newport to Newport…PARS is Expanding into New EnglandCategories: New England Developments,PARS In the News
PARS is pleased to announce that we have now expanded our services to New England with a new office in Newport, Rhode Island. New England cities, towns, counties, special districts, and school districts will now be able to utilize PARS solutions locally to help better achieve their organizational objectives.
In particular, public agencies can address a growing need by prefunding retiree health care benefits via the PARS OPEB Trust – a Section 115 multiple-employer IRS-approved, tax-exempt funding vehicle. By utilizing the PARS full-service OPEB trust solution, public agencies will benefit from the following features:
- Significant savings from economies of scale of a large trust
- Low-cost with no upfront costs and competitive investment management fees
- No minimum contributions nor funding requirements
- Existing IRS Private Letter Ruling meaning no IRS approval process – already done for you
- Quick Implementation – in days, not months
- Ability to offload administrative burden from your staff with PARS turn-key services
- Local control of own trust account with no risk sharing earnings or liabilities
- Flexible investment options to meet your agency’s specific investment objectives for OPEB assets
- Personal service from PARS of a dedicated Senior Consultant and Client Services Coordinator
- Security of U.S. Bank, the nation’s largest OPEB trustee and 5th largest commercial bank in the country
- Experience of PARS: 18 year track record of administering OPEB trusts and over 130 clients … and growing!