PARS (Public Agency Retirement Services)

What PARS (Public Agency Retirement Services) does

PARS (Public Agency Retirement Services) is a privately held financial services firm founded in 1984 and headquartered in Newport Beach, California, that administers retirement and benefits solutions exclusively for U.S. public agencies. The company's product suite centers on IRS-approved Section 115 trust programs, including dedicated Pension Prefunding (PARS Pension Rate Stabilization Program / PRSP) and OPEB/Retiree Healthcare Prefunding trusts, and a combination pension/OPEB trust first approved by IRS Private Letter Ruling in 2015. Complementary offerings include Social Security Alternative Plans for part-time and seasonal public employees, Defined Benefit and Defined Contribution plans, and education-sector-specific Supplementary Retirement Plans (SRP) and Voluntary Separation Incentive Plans (VSIP) used for workforce restructuring. The technology layer is a web-based Section 115 trust administration platform paired with a participant portal (myplan.pars.org).

PARS delivers full-service administration from initial consultation and feasibility analysis through plan design, implementation, and ongoing support, partnering with U.S. Bank as federally chartered trustee (the largest Section 115 trustee in the U.S.), PFM Asset Management, Pacific Life, and John Hancock for investment management. The company operates regional sales teams across Eastern and Western U.S. markets, with dedicated coverage in California, Arizona, Texas, and Georgia, and co-markets with the California School Boards Association (CSBA).

The business model is fee-based trust administration with an asset-based fee schedule that declines as agency assets grow, with no startup costs, minimum fees, required contribution amounts, or transaction fees. Customers are segmented into Municipal Agencies (cities, counties, special districts addressing GASB 68 pension and GASB 75 OPEB obligations) and Educational Agencies (K-12 districts, community colleges, and higher education institutions), with additional state-specific vehicles such as the Arizona Employers Pension Prefunding Program (AEPPP) for PSPRS liabilities. As of 2024 the company has administered over 2,000 plans and serves 550+ public agencies nationwide.

Name

PARS (Public Agency Retirement Services)

Legal name

PUBLIC AGENCY RETIREMENT SERVICES

Website

https://pars.org

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

PARS (Public Agency Retirement Services) is a Newport Beach-based, privately held financial services firm founded in 1984 that administers IRS-approved Section 115 trust programs for pension and OPEB prefunding exclusively to U.S. public agencies, including cities, counties, school districts, and special districts.

Ownership category

akta.pro rank

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Section 115 Trust Administration: PARS generates revenue through fees for administering Section 115 trust programs for OPEB and pension prefunding. The fee schedule decreases as agency assets increase, with no startup costs, minimum fees, required contribution amounts, or transaction/trading fees.
2. Retirement Plan Administration: PARS provides administration services for Supplementary Retirement Plans (SRP), Voluntary Separation Incentive Plans (VSIP), defined benefit plans, defined contribution plans, and Social Security Alternative plans, charging fees for comprehensive plan administration including design, analysis, implementation, and ongoing support.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

PARS provides IRS-approved Section 115 trust programs and retirement plan administration exclusively for public agencies, enabling municipal and educational agencies to prefund pension and OPEB (retiree healthcare) liabilities. It delivers full-service plan administration from consultation and design through implementation and ongoing support.

Product overview

PARS (Public Agency Retirement Services) offers a comprehensive suite of retirement and pension management solutions exclusively for public agencies. The company's portfolio centers on IRS-approved Section 115 trust programs, including the core Pension Prefunding/Pension Reserves Trust and OPEB/Retiree Healthcare Prefunding offerings, which can be combined in a single innovative dual-purpose trust. Additional core products include Social Security Alternative plans and Defined Benefit/Defined Contribution Plans for municipal agencies. For educational agencies, PARS provides Supplementary Retirement Plans (SRP) and Voluntary Separation Incentive Plans (VSIP) as tax-deferred workforce optimization tools. State-specific offerings include the Arizona Employers Pension Prefunding Program (AEPPP) for PSPRS liabilities and the Pension Rate Stabilization Program (PRSP) for pension cost management. The company delivers full-service plan administration from consultation through implementation and ongoing support, with trust administration partnerships including U.S. Bank as federally chartered trustee.

Differentiator

Problem solved

Functional benefit

Brands

• PARS Pension Rate Stabilization Program (PRSP): IRS-approved Section 115 trust program designed to prefund pension costs and address pension liabilities
• PARS OPEB Trust Program
• Arizona Employers Pension Prefunding Program (AEPPP)
• Supplementary Retirement Plan (SRP)
• Voluntary Separation Incentive Plan (VSIP)

Products and services

• Pension Prefunding/Pension Reserves Trust IRS-approved Section 115 trust program designed to prefund pension costs and address pension liabilities, mitigating long-term contribution rate volatility and reducing costs through diversified, low-cost investment options. For municipal public agencies.
• Other Post Employment Benefits (OPEB)/Retiree Healthcare Prefunding IRS and GASB-approved Section 115 trust program for prefunding retiree healthcare liabilities, offering cost-effective management and funding of OPEB benefits for public agencies.
• Social Security Alternative Plan FICA alternative plan tailored for public agencies with part-time, seasonal, and temporary employees, providing 100% immediate vesting, pre-tax contributions, and portability.
• Defined Benefit/Defined Contribution Plans Flexible retirement benefit plans that can serve as primary benefits or supplement existing retirement systems, offering various benefit designs for workforce retention and reward.
• Supplementary Retirement Plan (SRP) Tax-deferred retirement incentive specifically designed for educational agencies to create savings, reduce labor costs, and restructure or reorganize workforce.
• Voluntary Separation Incentive Plan (VSIP) Tax-deferred separation incentive designed to proactively address fiscal and operational workforce challenges such as rising labor costs, budget cuts, and declining enrollment.
• Arizona Employers Pension Prefunding Program (AEPPP) IRS-approved Section 115 trust specifically designed for Arizona public agencies to proactively manage and address Public Safety Personnel Retirement System (PSPRS) liabilities.
• Pension Rate Stabilization Program (PRSP) Section 115 trust program designed to help agencies stabilize pension costs and manage contribution rate volatility through diversified investment strategies.
• Combination OPEB/Pension Section 115 Trust Innovative dual trust structure that allows agencies to prefund both OPEB and pension liabilities in the same Section 115 Trust, bringing administrative efficiencies and lower fees as assets accumulate.

Quantifiable outcome

• 2,000+ plans administered since inception in 1984
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered major.

• PFM Asset ManagementmajorTechnology or IntegrationPFM Asset Management provides investment management expertise as part of PARS' trust programs, offering diversified investment options designed by industry leaders.
• Pacific LifemajorTechnology or IntegrationPacific Life partners with PARS to provide investment options within the Section 115 trust programs, contributing to the diversified investment strategies available to participating agencies.
• John HancockmajorTechnology or IntegrationJohn Hancock partners with PARS to provide investment options within the Section 115 trust programs, contributing to the diversified investment strategies available to participating agencies.
• California School Boards Association (CSBA)majorGTM or Marketing PartnerCSBA partners with PARS on the OPEB Solutions Program, co-hosting webinars and providing marketing referrals to California school districts. PARS Vice President Rachael Sanders presents on OPEB/Section 115 Trusts during CSBA webinars.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat6 records

Customer concentration

• LinkedInlinkedin.com/company/pars

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PARS (Public Agency Retirement Services)