California Developments

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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20
Feb
2018

City of Escondido Maps Out Pension Liability Plan

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

To combat the unfunded pension liability, the Escondido City Council approved a Section 115 Irrevocable Pension Trust, along with pension funding options and a policy on the use of one-time money. An initial deposit from the Reserve for PERS Rate Smoothing is required to fund the program. Escondido follows in the footsteps of 128 other public agencies in implementing the PARS Pension Rate Stabilization Program.

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27
Nov
2017

Need Budget Cuts? Consider an Early Retirement Incentive

Categories: California Developments,Early Retirement Incentives

School Services of California by Sheila G. Vickers, November 2017

As state revenues for education are slowing down, and as many schools and community colleges are declining in enrollment, we are hearing from many of you in the field that

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