In the New Fiscal Year, PARS Offers Solutions to Help Your DistrictCategories: California Developments,Early Retirement Incentives,PARS News
Serving 47 community colleges and over 300 school districts, PARS is the go-to provider for your specialized retirement plan and trust needs.
PARS is the leader in IRC Section 115 Trusts to fund post employment benefits with over 400 clients prefunding pension and/or retiree healthcare. For over 35 years, PARS has also been a trailblazer in cost-saving retirement incentives and other customized plans, including:
- Pension Rate Stabilization Program (PRSP)– Pioneered by PARS, PRSP is a first-of-its-kind locally controlled trust, permitting reimbursements for STRS and PERS costs or payment directly to the systems. Since PARS created the program in 2015 (with a favorable IRS ruling) over 200 California public agencies have joined. More recently, we developed an innovative combination trust for funding both pension and OPEB..
- PARS OPEB Trust Program – Since 1994, PARS has administered trusts for retiree healthcare funding for education including over 310 public agencies. More recently, we developed an innovative combination trust for funding both OPEB and pension.
- Supplementary Retirement Plans (SRP) – Since 1984, PARS has provided services in the analysis, design, communication, and implementation of customized retirement and separation incentives to create fiscal savings, reduce labor costs, and manage workforce needs for 29 CA community college districts and over 300 others.
- Other Customized Retirement Plans – Public agencies also turn to PARS when they need expert help with the design and administration of plans to supplement other retirement benefits or alternatives to Social Security for part-time, seasonal and temporary employees.
We bring these services to community college districts and school districts through strong partnerships with U.S. Bank, Vanguard, HighMark Capital Management, and Pacific Life.