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Payson council adopts pension prefunding trust to smooth future PSPRS costs
Summary
The Town Council voted 7–0 to adopt Resolution 2026-001 authorizing participation in PARS, a Section 115-like pension prefunding trust intended to stabilize future PSPRS pension costs and allow the town to invest a portion of its 0.88 sales-tax dollars for interest earnings and liquidity.
The Payson Town Council unanimously approved Resolution 2026-001 on Jan. 14 to participate in a PARS-administered public agency post-employment benefits trust to prefund pension liabilities for employees whose retirement is covered by PSPRS.
Town Manager Darren introduced the proposal and said the mechanism creates an interest-bearing account used to prepay pension bills and earn returns rather than pay larger amounts from the general fund during peak years. “You stick that in there at the very beginning … you have a full…
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