Public Pension Challenges: The Role of the Section 115 Trust in Risk Mitigation and Strategic Financial PlanningCategories: OPEB/GASB 45/75,PARS News,Pension Rate Stabilization
Strategic 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 financialread more...
In 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 whenread more...
To Prefund in a Section 115 Trust or Not: A Greater Potential for Long-Term Earnings May Be the AnswerCategories: National Developments,OPEB/GASB 45/75,PARS News
Besides 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 greaterread more...
PARS 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/orread more...
Big Spring School District Cuts over $2.3 Million from Budget: PARS Separation Incentive Delivers Big SavingsCategories: Early Retirement Incentives,National Developments,New England Developments
This 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...