Voluntary retirement and separation incentives have delivered critical fiscal savings and operational efficiencies for thousands of school districts, but they have to be properly analyzed, designed, and implemented by specialists like PARS and used infrequently.read more...
As we begin 2021 and you start to prepare for next year’s budget, now is the time to assess whether a Voluntary Separation Incentive makes sense for your district or college.
Public Agency Retirement Services (PARS) can conduct a complimentary in-depth analysis to determine the fiscal impact of an incentive based on your actual workforce
demographics and will customize the design to meet the unique demands of your organization.
The New year is a time to set new goals and plan for the long-term. One new option for Arizona cities and counties in 2021 is the PARS Pension Prefunding Trust, an IRS Section 115 trust vehicle to set aside funds to help manage PSPRS and ASRS obligations.read more...
As a former superintendent of 17 years, I have always strived to provide the best education in the most fiscally responsible manner wherever I have been fortunate to lead a district. Regardless, of the socioeconomics of my districts, we were always charged with trying to do more with less. I can only imagine the angst affecting superintendents and school committees during this most trying Covid-19 pandemic. In reading articles from across the country, school districts not only have to face a level or decreased spending budget due to decreased state revenues; but have the burden of adding the expenses necessary to address the pandemic. So, what’s a superintendent to do?read more...
Public Agency Retirement Services (PARS) is excited to bring to Florida local governments for the first time our unique, IRS-approved Pension Prefunding Trust Program, in partnership with Vanguard and U.S. Bank.
PARS pioneered the trust concept in 2015 with the first IRS Private Letter Ruling on a multiple employer Section 115 trust for local governments to set aside funds for future pension costs and/or retiree healthcare costs (OPEB).read more...