California Developments

16
Jun
2020

Voluntary Separation Incentives: Historically Helping Districts in Difficult Times

Categories: California Developments,Early Retirement Incentives,National Developments,New England Developments,PARS News,Texas Developments

PARS has a long-standing successful track record of implementing over 1,000 Voluntary Separation Incentives to more than 350 school districts, community colleges, and educational agencies nationwide. These incentives have helped districts reduce labor costs, restructure their workforce, and avoid/reduce the need for layoffs.

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20
Feb
2020

Bright Idea: Allocating Reserves Toward Prefunding Liabilities

Categories: California Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

The start of the year brings with it new goals, new ideas, and new CAFR reports. With updated CAFR results now published, local governments can make decisions on how to use potential surplus and/or reserve funds in planning  for the next fiscal year. One highly recommended use of additional money is to set aside funds in a trust to prefund long term liabilities such as pension (Pension Rate Stabilization Program - PRSP) and retiree healthcare (OPEB).

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22
Jan
2020

Need Budget Savings? There’s Still Time for a Retirement Incentive in ’19-’20

Categories: California Developments,Early Retirement Incentives

The start of the New Year brings with it new goals, new ideas, and new opportunities. It is also a time to look for creative ways to save money. As you continue to review your district's finances over the coming weeks, consider having PARS help you analyze whether an early retirement incentive can create fiscal savings for your district in 2020 and beyond.

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02
Dec
2019

Save It for a Rainy Day: Address growing pension liabilities by setting aside funds

Categories: California Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

Setting aside money (prefunding) into an Internal Revenue Code (IRC) Section 115 trust is a proven, effective way to proactively address growing pension contribution rates and liabilities. The PARS Pension Rate Stabilization Program (PRSP) allows cities to securely set aside funds, separately and apart from their retirement system, in a tax-exempt funding vehicle to mitigate long-term contribution rate volatility.

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20
Oct
2019

NOW is the Time to Analyze a Retirement Incentive for Budgetary Savings in the 2019/20 Year

Categories: California Developments,Early Retirement Incentives,PARS News

Public Agency Retirement Services (PARS) can help your district analyze whether it makes it sense to offer an early retirement incentive  for fiscal and budgetary success. We specialize in customized, locally-controlled early retirement incentives that, if properly designed, can be a win-win solution for unions, employees and administrations.

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