National 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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01
May
2020

Dos and Don’ts of Using Voluntary Separation Incentives as a Fiscal Tool in Pennsylvania

Categories: Early Retirement Incentives,National Developments,PARS News

A well-crafted early retirement or separation incentive can be a win-win approach for management and employees/labor to achieve fiscal savings, avoid layoffs, and restructure departments or positions. The key to constructing a successful incentive is considering when and how it should be implemented. Below are crucial points to examine:

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13
Feb
2020

Philadelphia Parking Authority Fully Funds its OPEB Liability

Categories: National Developments,OPEB/GASB 45/75,PARS News

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.

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05
Feb
2020

PARS First-of-its-Kind Section 115 Pension Funding Trust Now Offered Nationally

Categories: National Developments,PARS News,Pension Rate Stabilization

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.

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29
Jan
2020

Budgeting for Long Term Financial Success in Pennsylvania

Categories: National Developments,OPEB/GASB 45/75,Pension Rate Stabilization

 

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

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