The start of the year brings with it new goals, new ideas, and new CAFR reports. With updated CAFR results now published, local governments can make decisions on how to use potential surplus and/or reserve funds in planning for the next fiscal year. One highly recommended use of additional money is to set aside funds in a trust to prefund long term liabilities such as pension (Pension Rate Stabilization Program - PRSP) and retiree healthcare (OPEB).read more...
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...
Prefund Your Agency’s OPEB Liabilities Today with Texas’ Most Experienced Full-Service Provider
The start of the year is a time to restart the budgeting process. As you start to look at your 2020/21 finances, once highly recommended course of action
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
Setting aside money (prefunding) into an Internal Revenue Code (IRC) Section 115 trust is a proven, effective way to proactively address growing pension contribution rates and liabilities. The PARS Pension Rate Stabilization Program (PRSP) allows cities to securely set aside funds, separately and apart from their retirement system, in a tax-exempt funding vehicle to mitigate long-term contribution rate volatility.read more...