New England Developments

23
Oct
2019

PARS Combination Trust Comes to Massachusetts

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

Offered in partnership with U.S. Bank and Vanguard, PARS offers the nation’s ONLY IRS Section 115 Post Employment Benefits (PEB) trust, that enables municipalities for the first time to set aside funds for both pension and/or OPEB liabilities in one trust.

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17
Apr
2019

Top 10 Reasons to Prefund Your Other Post- Employment Benefits

Categories: California Developments,National Developments,New England Developments,OPEB/GASB 45/75

 

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

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12
Apr
2018

Introducing A New Innovative OPEB Trust Investment Program

Categories: New England Developments,OPEB/GASB 45/75,PARS News

Hampshire Council of Governments (HCG) has partnered with PARS, to launch the Western Mass. OPEB Trust, available to all public entities in Berkshire, Franklin, Hampden, Hampshire, and Worcester counties. PARS will serve as Trust Administrator while Vanguard will manage low fee investment pools specially designed for the this program. In addition, the nation’s 5th largest bank, U.S. Bank, will safeguard each members’ assets by serving as corporate trustee/custodian.

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18
Nov
2017

Massachusetts State, Municipalities Face Growing Health Care Costs For Retirees

Categories: New England Developments,OPEB/GASB 45/75

 

Boston Business Journal  by Jessica Bartlett and Greg Ryan, November 16, 2017

While the state’s pension woes have generated consistent newspaper headlines, as well as efforts reform on Beacon Hill. But the problem of funding other retiree benefits —

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31
May
2017

Recap: OPEB/GASB 75 Lunch & Learn in MA

Categories: New England Developments,OPEB/GASB 45/75,PARS News

On May 24 in Framingham, Massachusetts, PARS, Vanguard and Odyssey Advisors lead a productive "Lunch & Learn" session to help demystify the coming changes to OPEB accounting standards for municipal entities as it relates to their retiree medical programs. GASB 74 & GASB 75 represent a significant change from the current standards and they shared the key points about how it will impact financial statements, when it's effective and what can be done now to prepare.

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