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RESOLUTION NO. 2022 – 02
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF PATTERSON
ADOPTION OF PENSION FUNDING POLICY
WHEREAS, a Pension Funding Policy has been developed for the City of Patterson (“City”) to provide guidance in the management of the City’s defined benefit pension plans established for sworn public safety (“Safety”) and non-sworn (“Miscellaneous”) personnel and administered by the California Public Employees’ Retirement System (“CalPERS”); and
WHEREAS, City staff hereby recommends that the City Council approves and adopts the Pension Funding Policy attached hereto as Exhibit A, which will provide conservative and assertive guidance to defined benefit pension plans.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PATTERSON HEREBY approves and adopts the Pension Funding Policy attached hereto as Exhibit A.
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