
Sep
2023
Public Pension Challenges: The Role of the Section 115 Trust in Risk Mitigation and Strategic Financial Planning
Categories: OPEB/GASB 45/75,PARS News,Pension Rate StabilizationStrategic financial management in local government revolves around the intricate balance of maximizing revenues and judiciously controlling expenses. This delicate equilibrium is crucial for enabling transparent, future-oriented financial planning, providing for resiliency, and ensuring consistent financial
read more...Jul
2023
Making Cents of Implicit Subsidy Liabilities: An Imperative Case for Pre-Funding OPEB in Texas
Categories: OPEB/GASB 45/75,PARS News,Texas DevelopmentsIn the complex landscape of municipal finance, unique challenges constantly arise. Among these, a particularly significant concern for Texas municipalities pertains to Other Post-Employment Benefits (OPEB), specifically the implicit subsidy liabilities. This financial quandary emerges when
read more...Nov
2021
To Prefund in a Section 115 Trust or Not: A Greater Potential for Long-Term Earnings May Be the Answer
Categories: National Developments,OPEB/GASB 45/75,PARS NewsBesides the fiscal prudence of dedicating funds for future retiree healthcare using a Section 115 trust, the other compelling function is the ability to diversify investments. Unlike the general fund, state laws allows Section 115 trusts greater
read more...Nov
2021
No Set-up Cost of an IRC Section 115 Trust with PARS
Categories: National Developments,New England Developments,OPEB/GASB 45/75PARS Section 115 Combination Trust, in partnership with U.S. Bank and Vanguard, is an innovative, first-of-its kind tool for local governments and school districts to plan ahead and set aside funds for long-term retiree healthcare (OPEB) and/or
read more...Nov
2021
Big Spring School District Cuts over $2.3 Million from Budget: PARS Separation Incentive Delivers Big Savings
Categories: Early Retirement Incentives,National Developments,New England DevelopmentsThis year, Big Spring School District in Pennsylvania implemented a PARS Voluntary Separation Incentive, resulting in 16 teacher retirements and over $2.3 million in budgetary savings over the next 5 years due to attritional savings and strategically not replacing several positions.
read more...