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RESOLUTION NO. 2022 – 01
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF PATTERSON
APPROVING THE ADOPTION OF THE PUBLIC AGENCIES POST-EMPLOYMENT BENEFIT
TRUST ADMINISTERED BY PUBLIC AGENCY RETIREMENT SERVICES (PARS) WHEREAS, PARS has made available the PARS Public Agencies Post-Employment Benefits Trust (”Program”) for the purpose of pre-funding pension obligations and/or OPEB obligations; and WHEREAS, the City of Patterson (“City”) is eligible to participate in the Program, a tax-exempt trust performing an essential governmental function within the meaning of Section 115 of the Internal Revenue Code, as amended, and the Regulations issued there under, and is a tax-exempt trust under the relevant statutory provisions of the State of California; and WHEREAS, the City’s adoption and operation of the Program has no effect on any current or former employee’s entitlement to post-employment benefits; and WHEREAS, the terms and conditions of post-employment benefit entitlement, if any, are governed by contracts separate from and independent of the Program; and WHEREAS, the City’s funding of the Program does not, and is not intended to, create any new vested right to any benefit nor strengthen any existing vested right; and WHEREAS, the City reserves the right to make contributions, if any, to the Program.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PATTERSON HEREBY adopts the PARS Public Agencies Post-Employment Benefits Trust, effective January 18, 2022; and
1. The City Council hereby appoints the City Manager, or his/her successor or his/her designee as the City’s Plan Administrator for the Program; and
2. The City’s Plan Administrator is hereby authorized the execute the PARS legal and administrative documents on behalf of the City and to take whatever additional actions are necessary to maintain the City’s participation in the Program and to maintain compliance of any relevant regulation issued or as may be issued; therefore, authorizing him/her to take whatever additional actions are required to administer the City’s Program. 2 of 2
PASSED AND ADOPTED this 18
th day of January 2022, by the following roll call vote:
AYES:
NOES:
EXCUSED:
APPROVED:
Dennis McCord, Mayor
ATTEST:
Aracely Alegre, Acting City Clerk