PARS In the News

31
Aug
2016

R.I. Towns & Cities Look Beyond Pension Liabilities to an Even Bigger Problem: OPEBs

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

A majority of Rhode Island cities and towns have zero, or next-to-zero, money set aside to pay for OPEB liabilities, which the state estimates exceeds $3 billion in aggregate and is funded at 1.4 percent. Because there's no money set aside, the liabilities - funded on a pay-as-you-go basis each year - eat away at operating budgets at an increasing pace. "That [liability] is increasing each year and that number is significant," said Kathryn Cannie, Senior Consultant at PARS.

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22
Apr
2016

PARS, PRSP and the Power of Prefunding

Categories: California Developments,PARS In the News,Pension Rate Stabilization

With pensions being the hot button topic of the moment and over $1 trillion dollars across the US in unfunded liabilities, we’ve asked public retirement experts PARS to weigh in on the matter. This well-respected, innovative company established over 30 years ago to exclusively serve public agencies, has, true to form, introduced a new, first-of-its-kind solution to the marketplace.

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06
Apr
2016

Rhode Island Insurer Makes Case for PARS-Administered OPEB Trust

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

Colleen Bodziony from the Rhode Island Interlocal Risk Management Trust presented the councilors and school board with facts and figures for an irrevocable trust that only would stockpile money to pay for Jamestown's retirement obligations. Compliant with the Governmental Accounting Standards Board and the IRS, the money would be used exclusively for retiree healthcare benefits.

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20
Mar
2016

What Can Be Done to Deal With CalSTRS & CalPERS Rate Increases

Categories: California Developments,PARS In the News,Pension Rate Stabilization

With local educational agencies (LEAs) may soon be in a cost-of-living adjustment (COLA) only environment, while at the same time faced with continued pension obligation increases. With no legislation solution in sight, what can be done to with CalPERS and CalSTRS contribution rate increases?

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16
Mar
2016

A New Tool for Pension Budgeting

Categories: California Developments,PARS In the News,Pension Rate Stabilization

With our maturing public pension plans, we know that we should expect greater fluctuations in required contributions from year to year. And since we know big fluctuations are coming, our actuaries are warning employers to plan for it in order to ease the burden when big contribution increases do arrive. But how exactly does one do that? PARS' Pension Rate Stabilization Program

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