City of Piedmont FY 2026-27 Proposed Budget 2026-05-19
City Uses PARS Trust to Stabilize Pension Costs
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Description
The City maintains an ongoing Pension Rate Stabilization Trust with PARS, funded with $3.75 million in contributions and a balance of roughly $5.0 million as of March 2025. This agreement provides a mechanism to smooth future pension costs and protect the General Fund.
Contract Details
Vendor
PARS
Agency
City of Piedmont, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Trust established in 2018 and ongoing
Renewal Info
Trust is ongoing; the City anticipates beginning withdrawals around FY 2027-28 to cover a portion of pension expenses until the fund is exhausted.
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