03
Dec
2020

First-of-its-kind Section 115 Pension Pre-funding Trust Now Offered in Florida

Categories: National Developments,PARS News,Pension Rate Stabilization

Public Agency Retirement Services (PARS) is excited to bring to Florida local governments for the first time our unique, IRS-approved Pension Prefunding Trust Program, in partnership with Vanguard and U.S. Bank. PARS pioneered the trust concept in 2015 with the first IRS Private Letter Ruling on a multiple employer Section 115 trust for local governments to set aside funds for future pension costs and/or retiree healthcare costs (OPEB).

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01
Dec
2020

Managing Pension Costs in Arizona with a Section 115 Prefunding Trust, POBs or COPs

Categories: National Developments,PARS News,Pension Rate Stabilization

Whether issuing Pension Obligation Bonds (POBs) or Certificates of Participation (COPs), an IRS Section 115 PARS Pension Prefunding Trust, in partnership with Vanguard and U.S. Bank, is a great new option in Arizona to address PSPRS, ASRS or any retirement system costs over the long term.

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07
Oct
2020

PARS Welcomes Former Superintendent, Ben Tantillo, as We Continue to Grow in New England!

Categories: Early Retirement Incentives,National Developments,OPEB/GASB 45/75,PARS News

PARS is pleased to introduce Dr. Ben Tantillo as the newest member of the New England Team. With over 40 years’ experience in public education, Ben served has held Superintendent and Principal positions throughout the Northeast. With PARS, Ben will work with school districts, colleges and universities to help analyze, design and implement locally controlled voluntary separation incentives as well as manage rising retiree healthcare costs and liabilities through PARS industry leading OPEB Trust Program.

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02
Oct
2020

Is Your City Really Prepared for Rising Pension Costs?

Categories: California Developments,PARS News,Pension Rate Stabilization

For the past several years, the City of Sausalito considered its rising pension obligations very seriously and continually examined all options to reduce pension liabilities and annual costs. Consequently, Sausalito implemented several policies for reform that focused on the variables that the city could control. But even all those improvements could not mitigate the rate and unfunded liability volatility from one CalPERS actuarial report to the next; there were just too many variables outside the city’s control. To stabilize rates charged to the city’s General Fund, the city’s Finance Committee looked at developing a pension funding methodology.

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16
Sep
2020

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

Categories: California Developments,PARS News,Pension Rate Stabilization

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.

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