February, 2020
Feb
2020
Bright Idea: Allocating Reserves Toward Prefunding Liabilities
Categories: California Developments,OPEB/GASB 45/75,PARS News,Pension Rate StabilizationThe start of the year brings with it new goals, new ideas, and new CAFR reports. With updated CAFR results now published, local governments can make decisions on how to use potential surplus and/or reserve funds in planning for the next fiscal year. One highly recommended use of additional money is to set aside funds in a trust to prefund long term liabilities such as pension (Pension Rate Stabilization Program - PRSP) and retiree healthcare (OPEB).
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2020
Philadelphia Parking Authority Fully Funds its OPEB Liability
Categories: National Developments,OPEB/GASB 45/75,PARS NewsDue to prudent fiscal planning, the Philadelphia Parking Authority (PPA), became one of the first government entities in Pennsylvania to fully fund its retiree healthcare (OPEB) liability.
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2020
PARS First-of-its-Kind Section 115 Pension Funding Trust Now Offered Nationally
Categories: National Developments,PARS News,Pension Rate StabilizationPARS is excited to announce the expansion of its unique, IRS-approved Section 115 Pension Rate Stabilization Program across the country. Designed in 2015, this industry-leading program operates separate and apart from an agency's retirement system, providing local governments with a tool to set aside funds for future pension costs and liabilities.
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