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Payson council discusses using settlement funds to reduce police PSPRS debt; staff to model buy-down scenarios
Summary
Council and staff discussed applying anticipated PFAS settlement proceeds to reduce the Town's police PSPRS unfunded liability. Staff reported the town's PSPRS liability and recommended modeling options; council asked for scenarios showing operating cost savings.
The Payson council on June 3 asked staff to model options for using anticipated settlement proceeds to reduce the town's public-safety pension (PSPRS) unfunded liability and lower future operating costs.
Staff told council the town's combined PSPRS unfunded liability for police and fire was about $19 million, with plan assets covering roughly $28 million. Staff highlighted a…
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