PARS In the News

02
Mar
2017

Napa Valley USD Saves Millions with PARS Early Retirement Incentive

Categories: California Developments,Early Retirement Incentives,PARS In the News

In December, Napa Valley Unified School District contracted with PARS to devise an incentive program for older teachers and other employees to retire at the end of the school year. A total of 66 district employees (52 teachers), out of 228 who were eligible for it, took the incentive. The District estimates the retirements will save NVUSD nearly $3 million in salaries and benefits next year — and $14.5 million over five years.

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09
Jan
2017

Community College League of California Partners with PARS on Pension Prefunding

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

Community College League of California, in partnership with PARS, is offering community college districts the PARS-CCLC Pension Rate Stabilization Program (PRSP) — an innovative IRC Section 115 irrevocable trust designed to prefund pension costs and help districts get ahead of rising STRS/PERS rate increases.

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19
Oct
2016

NEW Webinar! Managing Your OPEB and Other Benefit Liabilities

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

Financial and educational experts from PARS, CSBA and School Services of California recently joined together for a special webinar designed for K-12 districts on “Managing Your OPEB and Other Benefit Liabilities”.

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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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