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Despite Palo Alto’s Pension Liabilities Increasing, Prefunding with PARS Aiming to Pay Off 90% in 15 Years

Recent Stories: September 16, 2020

The city of Palo Alto’s unfunded pension liability has increased by 4.7% to $476 million. However, that doesn’t reflect the city’s effort to hedge against the liability by putting money into a side trust for pensions. Formally known as a PARS Section 115 Trust Fund, it aims to pay off 90% the city’s unfunded pension liability in 15 years. Read full story ...