“PARS is able to customize the plan structure so that the District realizes its cost reduction, and employee reduction objectives. In VUSD we offered the Early Retirement Incentive two years in a row, using one-time Federal ARRA or Ed Jobs funds. The unsatisfying experience of ‘reductions in force’ are mitigated if not eliminated through the PARS Early Retirement Incentive program.”
“We were looking for a program administrator with experience and a proven track record. PARS is just such an administrator. Not only do they offer security, flexibility and personal service, but they also allow us to participate in selecting the investment strategies for these funds, giving the County control on target rate of return and level of risk on investments.”
“The City has experienced certain difficulties with past providers who have been unresponsive to the needs of the City. PARS provides a direct contact by assigning us a Client Services representative who is not only knowledgeable about our plan but we are able to contact them directly and have a response in a timely manner. PARS is a full-service company that provides for their clients’ needs.”
"PARS was selected after an exhaustive search and they exceeded our expectations from day 1. After 11+ years, their technical expertise, professionalism, and customer service are unmatched. As a client, we know our needs are their top priority."
As mentioned in the last Alert, CalPERS was about to approve new actuarial policies related to amortization and smoothing that will have a significant impact on employers’ rates. On April 17, the Board adopted a policy intended to return the system to fully funded status over the next 30 years. Some have projected that employer contributions will rise by almost 50% over a five year period starting with the 2015/2016 fiscal year. Employee contributions are not affected.
Read full story ..."It’s a sincere honor to work for the full service leader in custom public agency retirement plans. The PARS team has created an exciting niche for nearly 30 years, listening to our clients' needs and delivering solutions that make them very loyal."
