New England Developments

12
Apr
2018

Introducing A New Innovative OPEB Trust Investment Program

Categories: New England Developments,OPEB/GASB 45/75,PARS In the 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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10
Apr
2018

PARS Welcomes Ed Hoyt to Help School Districts in Connecticut

Categories: Early Retirement Incentives,New England Developments

PARS is excited to introduce the newest member of our Connecticut team, Edward Hoyt. Ed has over 35 years of experience working in Connecticut public education and human services and most recently served as the Business Administrator for Orange and Canton Public Schools and Plainville Community Schools.

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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 In the 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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18
May
2017

Weymouth, MA to Join Plymouth County Trust for Retiree Health Costs

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

The Weymouth town council approved a proposal to enroll Weymouth post retirement health care for municipal employees in the Plymouth County OPEB Trust (PCOT) fund to comply with new financial recording requirements by the Governmental Accounting Standards Board. Councilor-at-large Michael Molisse , chairman of the budget-management committee said, " a lot of work was done and they (PCOT) were highly recommended. I think it will be good."

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