Why Choose  Pars?

Since 1984, the PARS team has designed and delivered over 1,100 individually customized solutions that have cumulatively saved over 600 public agency clients hundreds of millions of dollars. Our success can be attributed to our unique approach, in which we:

  • Craft customized, mutually-beneficial retirement solutions for agencies and their workforces.
  • Guide agencies through the process, showing them how to achieve bottom-line results.
  • Redefine the goals and objectives of their organization.
Dennis Smith
Dennis Smith Senior Consultant
Pars Solutions

The PARS Pension Rate Stabilization Program (PRSP) is a Section 115 irrevocable trust designed for agencies to prefund pension costs and address GASB 68 Net Pension Liabilities (NPL). This cutting edge program can mitigate long-term pension investment volatility, while at the same time providing employers with greater local control of assets and investment flexibility to create a more actuarially sound retirement system.

Why use a separate trust to prefund your pension with PARS?

  • Participating agencies maintain oversight of investment management and control over the risk tolerance level of the portfolio
  • Assets held in the PARS Trust allows for greater investment flexibility and risk diversification compared to an agency's general fund investments
  • Assets can be accessed to offset unexpected rate increases (rate stabilization) or be used as a rainy day fund during periods when revenues are impaired based on economic or other conditions
  • Potential to improve an agency's bond rating
  • Flexibility to access trust assets at anytime as long as it is used to pay employer's pension obligation
  • Agencies can prefund retiree health care (OPEB) liabilities within the same trust while accounted for separately

For more information on our newest program, contact PARS at info@pars.org.

**California school districts, find out more about the OPEB Solutions Program (here)

All other agencies - find out more below.

Why should agencies prefund?

  • Greater rate of return lowers liabilities
  • Contributions into trust are "assets" that offset liabilities on financial statements
  • GASB 75 - OPEB liabilities going on balance sheets in 2017
  • GFOA recommends prefunding OPEB and considers it a "best practice"
  • Credit rating companies look more favorably on agencies who adopt an irrevocable trust and prefund. Higher credit rating means lower borrowing costs.

Why PARS?

  • 20 years providing OPEB Trust Services
  • U.S. Bank as trustee/custodian - Over 220 OPEB clients; 5th largest bank and one of the largest trustees in nation
  • GASB 45 compliant IRS approved Section 115 OPEB Trust
  • Sub-trust accounting capabilities allow for multiple accounts per agency if necessary (i.e. each bargaining group)
  • Streamlined implementation process
  • Range of available investment strategies - Model or custom; active or passive
  • Flexibility on disbursements - Distribute directly to a retiree medical provider, agency, or participant (if OPEB plan allows)
  • No minimum annual contribution
  • Local control over actuarial assumptions and methods
  • Competitive performance and fee structure

For more information, please contact Mitch Barker at mbarker@pars.org.

For current news & information on OPEB - click here.

Supplementary Retirement Plan (SRP)

The PARS retirement incentive, known as Supplementary Retirement Plan (SRP) offers your agency a constructive and humane tool to reduce labor costs, restructure your workforce, avoid layoffs and retain skilled, newer employees. (In CA only: due to PEPRA, the SRP is currently only available to K-12, County Offices of Education, and Community College Districts).

Why Choose PARS?

  • PARS offers a no-cost, comprehensive analysis based on our well-respected proprietary modeling method to help your agency determine whether an incentive is feasible.
  • PARS will work with you to customize a solution that fits your agency's individual needs when it comes to plan design, benefit level and funding.
  • PARS takes the burden off of your staff and provides exceptional client service - from initial plan implementation to the last benefit payment.

For more information, please contact PARS at info@pars.org.

Alternate Retirement Plans (ARS)

Our cost-saving alternative to Social Security for part-time, seasonal and temporary (PST) employees reduces contributions from 12.4% to 7.5%, offers pre-tax contributions, and provides more take-home pay.

We currently administer trusts serving hundreds of public agencies and hundreds of thousands of PST employees, saving public agencies millions of dollars, while offering part-time employees a lower-cost, more flexible and portable benefit.

What Sets PARS Apart?

  • Lower payroll costs for employers (typically 79% or more), compared to Social Security
  • Fixed, employer-controlled costs
  • Immediate vesting
  • Greater participant portability, including cash-out or rollover when they leave
  • No costly administrative or regulatory burdens
  • Tax-deferred distribution options for departing employees

Why Do Employers Prefer PARS?

  • An array of non-insurance investment options
  • No financial penalties for leaving the program
  • Personalized customer service
  • True specialists in plans for part-time employees
  • In-house administration - no outsourcing of services

For more information, please contact PARS at info@pars.org.

Separation Incentive Plan (SIP)

The PARS tax deferred exit incentive, known as a Separation Incentive Plan (SIP), offers colleges and school districts a constructive tool to reduce labor costs, restructure the workforce, reorganize departments or programs, avoid layoffs and retain skilled, newer employees. The plan can be offered to all or some employees during a pre-determined "window" enrollment period. Employees have the option to receive benefits over their lifetime or a fixed number of years. The agency has the option to fund the plan for up to 5 years.

  • PARS offers a no-cost, comprehensive analysis based on our well-respected proprietary modeling method to help your agency determine whether an incentive is feasible.
  • PARS will work with you to customize a solution that fits your agency's individual needs when it comes to plan design, benefit level and funding.
  • PARS takes the burden off of your staff and provides exceptional client service - from initial plan implementation to the last benefit payment.

For more information, please contact PARS at info@pars.org.

PARS can create Defined Benefit and Defined Contribution plans for your agency to provide the primary retirement benefit for your employees. In addition, our Defined Contribution plans can supplement an existing retirement system to provide an added layer of benefits for your employees. We tailor plans to the specific needs of your agency, whether it be to help you attract, retain and reward employees or to reduce pension and labor costs. PARS offers design flexibility which gives your agency the ability to:

  • Provide the benefit to specific employee groups or bargaining groups
  • Set specific eligibility and vesting requirements
  • Customize the benefit formula
  • Provide distribution flexibility including a lump sum benefit option
  • Require employee plan contributions
  • Customize the investment platform including self-directed investments

The PARS team has specialized exclusively in retirement plan consulting and administration services for public agencies since 1984. We will provide all initial consultation services, including plan set-up, legal documentation and on-going plan administration.


For more information, please contact PARS at info@pars.org.

Many agencies are struggling to save money with the tremendous payouts employees are receiving when they cash out their unused leave time. The PARS Leave Reduction Plan (LRP) converts any leave time (vacation, sick leave etc.) into a tax-qualified retirement plan. This helps enable employees to supplement their retirement benefits while also reducing liabilities for the agency.

Employee Advantages

  • Ability to reduce taxable income by rolling over funds into an IRA or other qualified retirement plan at separation from employment.
  • Tax-deferred accumulation of contributions and capital gains
  • Diversified investment options available for self-direction
  • Flexible distribution options including lump sum payout, IRA rollover, lifetime monthly payouts, and fixed term monthly payouts between 5-15 years

Employer Advantages

  • Reduced costs due to contributions made over time based on current pay rates, rather than at retirement (often the highest pay rate).
  • Flexibility of plan design - the ability to set variables such as eligibility and vesting requirements.

For more information, please contact PARS at info@pars.org.