Specifically designed to create savings to help reduce labor costs and restructure or reorganize your workforce, PARS offers educational agencies our Supplementary Retirement Plan (SRP) and Voluntary Separation Incentive Plan (VSIP). Through our proprietary model and comprehensive demographic analysis, districts can explore optimal benefit levels and tailor a program to fit their unique needs to help maximize savings and achieve fiscal goals while avoiding or minimizing the need for layoffs. These programs are constructive and proven win-wins for both the agency and its employees.
Programs offered may vary by state. Contact PARS to learn more.
PARS’ comprehensive IRS and GASB-approved Section 115 trust program is a cost-effective solution for educational agencies looking to prefund their OPEB (retiree healthcare) liabilities. As one of the largest full-service providers of OPEB Trust services in the nation, we are proud to offer a solution for managing and funding this critical benefit for your employees.
If your agency also offers pension benefits, they can be prefunded into the same trust as part of our innovative combination trust. Prefunding both OPEB and pension in one trust brings administrative efficiencies and can result in lower fees as assets accumulate.
Programs offered may vary by state. Contact PARS to learn more.
Designed to prefund pension costs and address pension liabilities, our tax-exempt IRS-approved Section 115 trust program is designed to help manage and stabilize contribution rate increases and long-term costs. Offering a diverse range of low-cost, flexible investment options designed by industry leaders, assets held within the trust can generate a potentially higher long-term rate of return than a general/reserve fund and can serve as an additional source of pension contribution funds during challenging economic or budgetary periods.
If your agency also offers retiree healthcare (OPEB) benefits, they can be prefunded into the same trust as part of our innovative combination trust. Prefunding both OPEB and pension in one trust brings administrative efficiencies and can result in lower fees as assets accumulate.
Programs offered may vary by state. Contact PARS to learn more.
A qualifying FICA (Federal Insurance Contribution Act) alternative plan to Social Security specifically tailored for educational agencies with part-time, seasonal, and temporary employees. This plan is designed to save public agencies money on payroll costs while providing significant benefits to their participating employees, including 100% immediate vesting, pre-tax contributions, and portability through the ability to rollover account balances to an IRA or another retirement plan.
Programs offered may vary by state. Contact PARS to learn more.
