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 when active employees andread more...
PARS has a long-standing successful track record of implementing over 1,000 Voluntary Separation Incentives to more than 350 school districts, community colleges, and educational agencies nationwide. These incentives have helped districts reduce labor costs, restructure their workforce, and avoid/reduce the need for layoffs.read more...
Prefund Your Agency’s OPEB Liabilities Today with Texas’ Most Experienced Full-Service Provider
The start of the year is a time to restart the budgeting process. As you start to look at your 2020/21 finances, once highly recommended course of actionread more...
The City of Cedar Park decided to enhance their retiree medical benefits as part of broader strategic goals to attract and retain a qualified workforce. Along with these enhancements, the City planned to create a trust to serve as a funding mechanism to offset the unfunded OPEB liability. Doing their due diligence in researching the best way to create a single-employer OPEB trust, the City was discovering it difficult to find the assistance they needed. It was at this point they learned about the PARS OPEB Trust Program, an IRS-approved multiple-employer trust solution.read more...
The Houston Municipal Employees Pension System (HMEPS) is the latest Texas organization to join over 300 public agencies nationwide in the IRS-approved PARS OPEB Trust Program.read more...