Voluntary Separation Incentives: Historically Helping Districts in Difficult TimesCategories: California Developments,Early Retirement Incentives,National Developments,New England Developments,PARS News,Texas Developments
PARS has a long-standing successful track record of implementing over 1,000 Voluntary Separation Incentives to more than 350 school districts, community colleges, and educational agencies nationwide. These incentives have helped districts reduce labor costs, restructure their workforce, and avoid/reduce the need for layoffs.read more...
The PARS OPEB Trust Program: A Comprehensive Approach for TexasCategories: OPEB/GASB 45/75,PARS News,Texas Developments
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 actionread more...
Cedar Park, TX latest city to adopt the PARS OPEB Trust ProgramCategories: OPEB/GASB 45/75,PARS News,Texas Developments
The City of Cedar Park decided to enhance their retiree medical benefits as part of broader strategic goals to attract and retain a qualified workforce. Along with these enhancements, the City planned to create a trust to serve as a funding mechanism to offset the unfunded OPEB liability. Doing their due diligence in researching the best way to create a single-employer OPEB trust, the City was discovering it difficult to find the assistance they needed. It was at this point they learned about the PARS OPEB Trust Program, an IRS-approved multiple-employer trust solution.read more...
Houston Municipal Employees Pension System (HMEPS) adopts the PARS OPEB Trust ProgramCategories: OPEB/GASB 45/75,PARS News,Texas Developments
The Houston Municipal Employees Pension System (HMEPS) is the latest Texas organization to join over 300 public agencies nationwide in the IRS-approved PARS OPEB Trust Program.read more...
What is a Legally Compliant OPEB (Retiree Healthcare) Trust in Texas?Categories: OPEB/GASB 45/75,PARS News,Texas Developments
Prefunding retiree healthcare (OPEB) benefits through a legally compliant trust can help entities lower long-term OPEB liabilities, preserve positive credit ratings and generate investment income through diversified investing. But these benefits can only be realized if the OPEB trustread more...