Lemon Grove School District Becomes Latest District to Join PARS Pension Rate Stabilization Program (PRSP)Categories: California Developments,Hot Sheets,Pension Rate Stabilization
In early September 2015, Lemon Grove School District passed a resolution to become the first school district to join the PARS Pension Rate Stabilization Program and can now move money in the general fund over to the trust to be diversified and grown to offset their pension liabilities.read more...
The cities of Coronado and Healdsburg became two of the latest municipalities to join the rapidly growing PARS Pension Rate Stabilization Program (PRSP); where funds can be set aside and invested to reduce liabilities and address pension obligations all while remaining under local control and discretion of the city. This innovative Section 115 multiple-employer trust helps cities prepare for future pension fund rate increases, at a risk tolerance level that aligns with their demographics and investment policies.read more...
When the Governmental Accounting Standards Board (GASB) first released Statement 45 detailing new OPEB accounting standards, the City of Rowlett was one of the many forward-thinking government entities that took notice. Smartly, Rowlett began requesting biennial actuarial reports and placed current OPEB liabilities on their financial reports. After a few report cycles, the data clearly showed steadily rising OPEB costs and liabilities that would need to be addressed.read more...
With their vision and discipline to prefund OPEB through the GASB-compliant, IRS-approved CSBA PARS Program, Fowler is in great shape to not only weather GASB 45 currently in effect, but also the new GASB 75 requirements released this year and effective June 2017.read more...
With its community growing, City of San Marcos officials searched for ways to add much needed personnel to meet demands on service in a way that would also help support the City’s financial health. The PARS FICA Alternative to Social Security Plan provided the City an appealing and cost-effective way to offer part-time, seasonal and temporary workers nice retirement benefits with advantages that Social Security does not currently provide.read more...