Laserfiche WebLink
Public Agency Retirement Public Financial Management Keenan <br /> Services(PARS) (PFM) <br /> Founded in 1984 1975 1972; in 1977 became part of <br /> Assured Partners, Inc. (AP) <br /> - <br /> Headquarters Newport Beach Philadelphia Keenan-Torrence, CA AP <br /> Lake Mary, Florida <br /> Torrence, Riverside, San <br /> Office Locations in Newport Beach-PARS San San Francisco&Los Angeles Clemente, Oakland, San Jose, <br /> California Francisco-HighMark Rancho Cordova, Redwood <br /> City, Pleasanton, Eureka <br /> Administration of 115 Trust for Financial& Investment Full range of insurance and <br /> Core Business prefunding OPEB/Pension advisory services financial services <br /> Section 115 Trust for Pensions <br /> &OPEB, supplemental defined Section 115 Trust for <br /> benefit programs, alternate Pensions&OPEB <br /> retirement systems for part- <br /> time employees, customized Section 115 Trusts for Provide financial consulting <br /> Programs defined contribution programs Pension&OPEB,financial services on collective <br /> to supplement CaIPERS advisory, asset management bargaining process and retiree <br /> and consulting services issues <br /> IRS Private Letter Yes; multiple employer trust No; PLR has never been an <br /> Ruling(PLR) Yes; multiple employer No; single employer trust IRS requirement for Section <br /> 115 <br /> Investment HighMark Capital Management PFM Asset Management Morgan Stanley <br /> Manager <br /> Trustee US Bank(Los Angeles) Multiple employer plan Wells Benefit Trust Company <br /> Fargo <br /> Section 115 Trust <br /> Plans under 300 17 57 <br /> Administration <br /> Annual Fees for $96,000 Approx. $95,000 plus$8 per $66,000 <br /> Assets $21 million trade fee <br /> Over$1 billion under <br /> Investment Assets Over$10.1 billion as of Sept. management for OPEB and <br /> under Approx. $1.5 billion(PARS) Pension Stabilization Trust. <br /> Administration for Approx. $14 billion(HighMark) 30, 2017 for Pension Defined Average account value for <br /> 115 Trust Benefit and OPEB plan Section 115 trusts is approx. <br /> $20 million. <br /> Investment Options 5 risk-tolerance levels (active or Custom Multi-Asset Classes 6 risk tolerance options <br /> passive), and custom option composite <br /> No minimum contribution; No No minimum contribution No Minimum contribution <br /> minimum fee; <br /> Minimums No start up fees; Minimum annual fee: $20,000 No start up fees <br /> No trade or transactions fees Trade fee: $8/trade No additional fees <br /> Page 3of5 <br />