PARS Plans & Products
Retirement Enhancement Plan (REP)

In the current state of the economy and with the upcoming retirement of the giant "Baby Boom" generation, the trend to supplement retirement benefits is likely to grow as competition increases for the diminishing numbers of the best-qualified employees.  PARS Retirement Enhancement Plans (REP), cost-effective, flexible employee benefit plans, can be utilized to attract and retain highly qualified managers and staff by adding an additional layer of retirement benefits to an agency's existing plan.

The flexibility of a PARS-REP lets a public agency customize a retirement program that best fits its specific needs and budget. The agency can utilize a Defined Benefit formula, that provides a lifetime monthly benefit, or offer a Defined Contribution plan where employees can build tax-free savings in addition to or in place of 457 and 403(b) plans (within IRC 415 limits).

PARS "turn-key" administration enables agencies to implement a PARS-REP with minimal ongoing agency staff involvement.

Estimated Benefit Projection

Some of the benefits include:

Agency Benefits	Employee Benefits
Ability to Attract Qualified Employees Ability to Retain Qualified Employees Flexibility in Plan Design: Defined Benefit or Defined Contribution Benefit Level Eligibility requirements (targeted employees/groups) Vesting Schedules (employee requirements to receive a benefit) Employer and/or Employee Contribution Levels Conversion of Accumulated Leave to Pension Benefit (e.g., sick leave)	Increased Retirement Income Pre-Tax Contributions Tax-Deferred Benefit Accumulation Choice of Benefit Payout Options Lifetime, Joint and Survivor Lump Sum IRA/Other Plan Rollover Fixed-Term Payout

Contact a PARS consultant today at:

(800) 540-6369