Page council adopts resolution to prefund retiree liabilities using PARS
Council adopted Resolution 1326 D24 to participate in a PARS prefunding plan, with an initial budgeting example of $400,000 to build an interest-bearing account to smooth future emergency-services pension obligations.
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The Page City Council unanimously adopted Resolution 1326 D24 on Nov. 13 to participate in the Arizona employers pension prefunding plan (PARS) and the public-agency post-employment benefits trust. City presenters said the vehicle is an interest-bearing account intended to reduce future spikes in pension payments for emergency services employees.
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