December, 2019

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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