13
Feb
2020

Philadelphia Parking Authority Fully Funds its OPEB Liability

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

Due 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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13
Feb
2020

PARS First-of-its-Kind Section 115 Pension Funding Trust Now Offered Nationally

Categories: National Developments,PARS News,Pension Rate Stabilization

PARS 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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29
Jan
2020

Budgeting for Long Term Financial Success in Pennsylvania

Categories: National Developments,OPEB/GASB 45/75,Pension Rate Stabilization

  The start of the year is a time to restart the budgeting process. As you start to look at your 2020/21 finances, one highly recommended course of action is to set aside funds in a

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23
Oct
2019

PARS Combination Trust Comes to Massachusetts

Categories: New England Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

Offered in partnership with U.S. Bank and Vanguard, PARS offers the nation’s ONLY IRS Section 115 Post Employment Benefits (PEB) trust, that enables municipalities for the first time to set aside funds for both pension and/or OPEB liabilities in one trust.

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07
Jul
2019

PARS Brings First-of-Its Kind ‘Combination’ Trust to Pennsylvania

Categories: National Developments,OPEB/GASB 45/75,PARS News,Pension Rate Stabilization

On July 1, Public Agency Retirement Services (PARS) introduced Pennsylvania’s first IRS-approved, Section 115 Post Employment Benefits (PEB) trust, uniquely designed for the prefunding of both pension and/or OPEB liabilities. PARS pioneered this cutting-edge program in 2015, which has rapidly grown to over 400 public agencies and $2.6 billion in assets.

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