Texas Developments

30
Nov
2015

City of Rowlett Joins the PARS OPEB Trust Program

Categories: Hot Sheets,OPEB/GASB 45/75,Texas Developments

When the Governmental Accounting Standards Board (GASB) first released Statement 45 detailing new OPEB accounting standards, the City of Rowlett was one of the many forward-thinking government entities that took notice. Smartly, Rowlett began requesting biennial actuarial reports and placed current OPEB liabilities on their financial reports. After a few report cycles, the data clearly showed steadily rising OPEB costs and liabilities that would need to be addressed.

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14
Oct
2015

San Marcos, TX Adopts the PARS FICA Alternative Plan

Categories: Hot Sheets,Texas Developments

With its community growing, City of San Marcos officials searched for ways to add much needed personnel to meet demands on service in a way that would also help support the City’s financial health. The PARS FICA Alternative to Social Security Plan provided the City an appealing and cost-effective way to offer part-time, seasonal and temporary workers nice retirement benefits with advantages that Social Security does not currently provide.

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21
Sep
2015

Harrison County, TX Improves Liabilities Through PARS OPEB Trust Program

Categories: Hot Sheets,OPEB/GASB 45/75,Texas Developments

By adopting and prefunding into the PARS OPEB Trust Program, Harrison County is immediately establishing a secure method of funding future retiree health benefits that will also allow them to reduce their unfunded liabilities by 30-40%.

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15
Jul
2015

Victoria College in Texas Reduces Budget with PARS Separation Incentive Plan

Categories: Early Retirement Incentives,Hot Sheets,Texas Developments

Victoria College was looking for a way to reduce its budget and restructure staffing in a positive way. While looking for solutions, the College learned about the PARS Tax Deferred Separation Incentive Plan (SIP).

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06
Jul
2015

Harrison County, TX Moves Ahead on OPEB Trust

Categories: OPEB/GASB 45/75,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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