California Vanpool Authority Agency Financials & Budget Comparison Staff Report February 2026
CalVans Continues PARS Defined Benefit Pension Participation
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Description
California Vanpool Authority continues its participation in the PARS defined benefit pension plan for full-time employees, recording $361,862 in employer contributions as pension expense for FY 2025. The arrangement provides 2% at 62 retirement benefits under a single-employer plan.
Contract Details
Vendor
PARS (PUBLIC AGENCY RETIREMENT SERVICES)
Agency
California Vanpool Authority (Calvans), CA
Contract Type
FINANCIAL_SERVICES
Document Date
February 12, 2026
Contract Term
Membership effective July 1, 2013; ongoing
Renewal Info
Ongoing participation in the PARS plan with contribution rates set by actuarial valuations; no stated termination date.
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