Due to prudent fiscal planning, the Philadelphia Parking Authority (PPA), became one of the first government entities in Pennsylvania to fully fund its retiree healthcare (OPEB) liability.read more...
PARS is excited to announce the expansion of its unique, IRS-approved Section 115 Pension Rate Stabilization Program across the country. Designed in 2015, this industry-leading program operates separate and apart from an agency's retirement system, providing local governments with a tool to set aside funds for future pension costs and liabilities.read more...
The start of the year is a time to restart the budgeting process. As you start to look at your 2020/21 finances, one highly recommended course of action is to set aside funds in a trust to prefund long
On July 1, Public Agency Retirement Services (PARS) introduced Pennsylvania's first IRS-approved, Section 115 Post Employment Benefits (PEB) trust, uniquely designed for the prefunding of both pension and/or OPEB liabilities. PARS pioneered this cutting-edge program in 2015, which has rapidly grown to over 400 public agencies and $2.6 billion in assets.read more...
With the introduction of GASB 75 which created increased retiree healthcare liabilities for many agencies throughout Connecticut, now is the time for your municipality or district to start addressing its long-term OPEB obligations.
Listed below are 10 key advantages