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PARS is thrilled to welcome the Town of Payson as the newest member of the Arizona Employers Pension Prefunding Program (AEPPP). Our AEPPP is an IRS-approved Section 115 trust designed to help public agencies in Arizona proactively manage and address Public Safety Personnel Retirement System (PSPRS) liabilities.  By joining the AEPPP, the Town of Payson is taking a conservative, progressive approach to actively […]

On Wednesday, October 8, 2025, the Board of the Fresno Unified School District of Fresno County, California, passed and adopted the PARS Supplementary Retirement Plan (SRP). With over 1900 employees eligible to enroll, this one-time-offer presents an incredible opportunity for the district’s bottom line, as well as for those eligible employees considering retirement. Administered by […]

In the complex domain of local government finance, the traditional role of reserves as a safety net is undergoing significant transformation. The modern financial landscape, characterized by increasing volatility and uncertainty, demands a reevaluation of traditional reserve strategies. This article delves into the emergence of Section 115 trusts as a modern financial instrument designed to […]

Taking the initiative to establish a Section 115 Trust to manage your agency’s long-term Other Post-Employment Benefits (OPEB) and/or pension obligations reflects a commitment to securing both the financial future of your staff and the fiscal health of your agency. But who your agency selects as a trust provider is crucial as it influences the management, security, […]

With its Public Safety Personnel Retirement System (PSPRS) funded ratios at just 20.4% for the Fire Department and 72.3% for the Police Department, the Town of Clifton‘s need for a sustainable solution in managing its pension liabilities became increasingly evident back in June of 2022. After researching possible solutions and holding thorough internal discussions, Clifton’s Council decisively adopted […]

Post employment benefits, including pension and other post-employment benefits (OPEB), are often some of the largest line item expenditures for local governments nationwide. Costs can be unpredictable and often rise from year-to-year. One way agencies or districts can initiate some control over these expenditures is by adopting and diversely investing assets into an IRC Section 115 […]

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 financial resources for improving levels of services provided to citizens. To safeguard this balance, risk mitigation becomes imperative, acting as […]

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 financial resources for improving levels of services provided to citizens. To safeguard this balance, risk mitigation becomes imperative, acting as […]