PARS In the News

30
Jul
2015

PARS Earns IRS Private Letter Ruling for Its Pension Pre-Funding Solution

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

PARS, a leading provider of local government controlled retirement programs, has received a first of its kind Private Letter Ruling from the Internal Revenue Service (IRS) for its pension pre-funding solution, the Pension Rate Stabilization Program (PRSP).

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28
Jul
2015

Humboldt County Working to Pay Off $220M Pension Liability

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

The Humboldt County Board of Supervisors took a first step to repay the $220 million the county owes to the California Public Employees Retirement System, by working to form a trust fund for that purpose. The trust fund option through PARS will allow the county to contribute funds when it has the funding available and allow it to use the trust fund to pay CalPERS if the county’s revenue stream takes a hit.

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09
Jul
2015

Plymouth County, MA Has Better Option for OPEB Worries

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

Plymouth County Treasurer Tom O’Brien recently introduced a new option for local agencies to address OPEB liabilities. The Plymouth County OPEB Trust (PCOT), with trust administration provided by PARS, utilizes a multiple-employer model and is available to communities in Plymouth, Barnstable, Bristol and Norfolk Counties.

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06
Jul
2015

Harrison County, TX Moves Ahead on OPEB Trust

Categories: OPEB/GASB 45,PARS In the News,Texas Developments

Harrison County moved a step closer in securing the future of its retiree health care plan by approving, on Monday, an agreement with Public Agency Retirement Services (PARS), to provide administrative services over its OPEB trust fund.

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30
Jun
2015

East Providence, RI Enters Interlocal Trust To Help Meet OPEB Requirements

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

East Providence will soon join a growing list of municipalities in the Rhode Island Interlocal Risk Management Trust, a funding mechanism designed by PARS to help cities and towns maintain their OPEB requirements going forward.

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