02
Dec
2019

Save It for a Rainy Day: Address growing pension liabilities by setting aside funds

Categories: California Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

Setting aside money (prefunding) into an Internal Revenue Code (IRC) Section 115 trust is a proven, effective way to proactively address growing pension contribution rates and liabilities. The PARS Pension Rate Stabilization Program (PRSP) allows cities to securely set aside funds, separately and apart from their retirement system, in a tax-exempt funding vehicle to mitigate long-term contribution rate volatility.

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23
Oct
2019

PARS Combination Trust Comes to Massachusetts

Categories: New England Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

Offered in partnership with U.S. Bank and Vanguard, PARS offers the nation’s ONLY IRS Section 115 Post Employment Benefits (PEB) trust, that enables municipalities for the first time to set aside funds for both pension and/or OPEB liabilities in one trust.

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20
Oct
2019

NOW is the Time to Analyze a Retirement Incentive for Budgetary Savings in the 2019/20 Year

Categories: California Developments,Early Retirement Incentives,PARS News

Public Agency Retirement Services (PARS) can help your district analyze whether it makes it sense to offer an early retirement incentive  for fiscal and budgetary success. We specialize in customized, locally-controlled early retirement incentives that, if properly designed, can be a win-win solution for unions, employees and administrations.

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23
Sep
2019

You Don’t Have to Give Up Control When Prefunding Pension

Categories: California Developments,PARS News,Pension Rate Stabilization

As cities and other public agencies look for ways to address growing pension costs and liabilities, prefunding into an Internal Revenue Service (IRC) Section 115 trust has become a popular option. The basic approach involves setting aside dedicated funds into the trust, which are then diversified with the potential to earn a greater rate of return than the general fund. However, not all 115 trust programs are created equal.

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31
Aug
2019

Cedar Park, TX latest city to adopt the PARS OPEB Trust Program

Categories: 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.

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