FINANCIAL_SERVICESONGOING

Newark Uses PARS Section 115 Trust For Pension Costs

Newark engaged Public Agency Retirement Services (PARS) to administer a Section 115 Pension Trust, funding it with approximately $12.0 million in FY 2025 to stabilize long-term pension costs. By April 2026 the trust balance had grown to about $14.3 million through investment performance.

Status
ONGOING
Document date
July 1, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Public Agency Retirement Services (pars)
Agency
City of Newark · CA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Approximately $12.0 million initial transfer in FY 2025 (trust funding)
Contract type
FINANCIAL_SERVICES
Contract term
Trust established in FY 2025; ongoing Section 115 pension trust relationship as of April 2026
Renewal
The PARS Section 115 Trust is an ongoing fiduciary relationship without a fixed end date; future discretionary contributions and reimbursement strategies will be evaluated as part of the City’s long-range pension funding plan.
Document type
Budget
Source document
City of Newark 2026-2028 Biennial Budget 2026-07-01

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Newark?

Public Agency Retirement Services (pars) was awarded this financial services contract by City of Newark, as recorded on July 1, 2026. The contract value is Approximately $12.0 million initial transfer in FY 2025 (trust funding).

How much is the Public Agency Retirement Services (pars) contract with City of Newark worth?

The Public Agency Retirement Services (pars) contract with City of Newark is valued at Approximately $12.0 million initial transfer in FY 2025 (trust funding), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a budget record.

Where was this contract approved?

This contract appears in City of Newark 2026-2028 Biennial Budget 2026-07-01 (Budget), dated July 1, 2026 from City of Newark. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Public Agency Retirement Services (pars) hold?

Public Agency Retirement Services (pars) may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Public Agency Retirement Services (pars)'s profile

What is City of Newark currently buying?

Explore City of Newark's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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