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City Maintains PARS Trust for OPEB Funding

City of Lakewood logoCity of Lakewood
Document date
Oct 27, 2026

The 30-second brief

What it covers

The City continues to use Public Agency Retirement Services for an irrevocable trust account that prefunds OPEB liabilities. The trust was 101% funded as of June 30, 2025, with projected funding of 99% after the proposed benefit changes.

Who holds it

Public Agency Retirement Services (Pars) holds this financial services contract with City of Lakewood. Its other public contracts on record include work for Laguna Beach Unified and Castro Valley Sanitary District.

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Contract details

Contract type
Financial Services
Document date
October 27, 2026
Vendor
Public Agency Retirement Services (Pars)
Agency
City of Lakewood
Source document
City Council Staff Report Consideration of Certain Other Post Employment Benefit (OPEB) Changes 2026-10-27 (StaffReport)

Public Agency Retirement Services (Pars)'s other public contracts

Laguna Beach Unified, CaliforniaDistrict Discusses PARS Retirement Incentive Analysis · Oct 22, 2026UndisclosedCastro Valley Sanitary District, CaliforniaPARS Considered for CVSan 401(a) Program · Oct 20, 2026UndisclosedTaft Union High, CaliforniaDistrict Maintains OPEB Trust With PARS · Oct 9, 2026UndisclosedBurbank Unified, CaliforniaDistrict Recommends Supplementary Retirement Plan With PARS · Oct 6, 2026UndisclosedBurbank Unified, CaliforniaDistrict Recommends PARS Administrative Services Agreement · Oct 6, 2026UndisclosedAll Public Agency Retirement Services (Pars) contractsVendor profile

More City of Lakewood contracts

Pfm Asset Management LLC (Pfm)City Continues Investment Advisory Relationship With PFM · Oct 27, 2026UndisclosedActuarial Retirement ConsultingActuarial Consultant Supports City OPEB Benefit Review · Oct 27, 2026UndisclosedSouthern California Edison CompanyLakewood Community Garden License Granted by Southern California Edison · Oct 14, 2026California Joint Powers Insurance AuthorityJoint Powers Authority Provides Coverage for Garden License · Oct 14, 2026Los Angeles County Metropolitan Transportation Authority (Lacmta)Lakewood Recommends Transit Grant MOU With LACMTA · Oct 13, 2026Up to $32,829All City of Lakewood activityAgency profile

Questions about this contract

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

Public Agency Retirement Services (Pars) was awarded this financial services contract by City of Lakewood, as recorded on October 27, 2026.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City Council Staff Report Consideration of Certain Other Post Employment Benefit (OPEB) Changes 2026-10-27 (StaffReport), dated October 27, 2026 from City of Lakewood. 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.

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