April, 2015

22
Apr
2015

Texas Bill Could Shift Pension Control from State to Cities

Categories: Texas Developments

Texas business leaders see cities’ inability to control their own pension funds to be a liability that could slow economic development. Control of public pensions traditionally belonged to the state, set by Texas law. Jim Murphy, R-Houston, and his conservative supporters want that control shifted to the local pension board, with pension terms defined by municipal ordinance.

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21
Apr
2015

Prefunding OPEB Liabilities – Something IS Better Than Nothing

Categories: California Developments,Hot Sheets,OPEB/GASB 45/75

How fiscally strapped Corning Union Elementary School District became a leader in OPEB funding

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20
Apr
2015

City of Sausalito Joins PARS’ OPEB Trust & Pension Stabilization Program

Categories: California Developments,Hot Sheets,OPEB/GASB 45/75,Pension Rate Stabilization

In the past decade as CalPERS mounting liabilities and OPEB funding has become a significant burden for many municipalities; Sausalito has stayed ahead of the curve by implementing several reforms to lower pension and OPEB costs and remain fiscally viable. While these actions improved Sausalito’s financial situation, their continued diligence led them to adopt both the PARS’ OPEB Trust Program and newly-developed Pension Rate Stabilization Program.

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14
Apr
2015

CalPERS contributions to rise more than 9 percent

Categories: California Developments

CalPERS is about to raise pension contribution rates again, this time by more than 9 percent, a move that will cost state government and local school districts nearly $600 million. The increases are the latest step by CalPERS to gradually shore up its finances. In early 2014 CalPERS said it would embark on a series of significant rate hikes, and on Tuesday the pension fund’s finance and administration committee recommended higher rates for the upcoming fiscal year.

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13
Apr
2015

PARS Solutions: Helping School Districts Maximize Resources

Categories: California Developments,Hot Sheets

With 30 years of experience specializing in the design, installation and administration of retirement plans and trusts, PARS provides California school districts with a full-spectrum of retirement programs. Our comprehensive, service oriented approach enables us to work hand-in-hand with each district during all phases of program operation - from initial design and implementation, through ongoing plan administration.

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