31
Jul
2018

Pleasanton OKs $28 Million Trust Investment to Address Rising Pension Costs

Categories: California Developments,PARS In the News,Pension Rate Stabilization

The Pleasanton City Council signed off on investing $28 million in a trust account to help raise additional funds to offset rising employee pension costs, a move city leaders see as leaving Pleasanton better positioned for the years and decades down the line when higher pension bills come due. With the trust administered by PARS, city officials hope to have their investment turn into $43.9 million after 10 years -- money that would be available to soften the annual budget impacts of higher pension payments.

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27
Jul
2018

Camarillo Looking Beyond CalPERS for Pension Help

Categories: California Developments,PARS In the News,Pension Rate Stabilization

At the July 11 Camarillo City Council meeting the council voted unanimously to take $5 million out of the city’s general fund and place it in a Pension Rate Stabilization Program trust managed by PARS. The city’s stated goal is to pay down its $30 million in unfunded liability debt over a period of 20 years.

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14
Jun
2018

City of Pleasanton Council Approves New Investment Strategy to Better Address Pension Liability

Categories: California Developments,PARS In the News,Pension Rate Stabilization

Based on recent CalPERS policy decisions, cities throughout the State are grappling with how to fund pension contributions that were to be covered by CalPERS investment earnings. To help cover those increased costs and maintain more control over City investments, Council authorized participation in the PARS PRSP.

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12
Apr
2018

Introducing A New Innovative OPEB Trust Investment Program

Categories: New England Developments,OPEB/GASB 45/75,PARS In the News

Hampshire Council of Governments (HCG) has partnered with PARS, to launch the Western Mass. OPEB Trust, available to all public entities in Berkshire, Franklin, Hampden, Hampshire, and Worcester counties. PARS will serve as Trust Administrator while Vanguard will manage low fee investment pools specially designed for the this program. In addition, the nation’s 5th largest bank, U.S. Bank, will safeguard each members’ assets by serving as corporate trustee/custodian.

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10
Apr
2018

PARS Welcomes Ed Hoyt to Help School Districts in Connecticut

Categories: Early Retirement Incentives,New England Developments

PARS is excited to introduce the newest member of our Connecticut team, Edward Hoyt. Ed has over 35 years of experience working in Connecticut public education and human services and most recently served as the Business Administrator for Orange and Canton Public Schools and Plainville Community Schools.

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