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RESOLUTION NO. 2022-15
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PATTERSON ADOPTING OTHER POST EMPLOYMENT BENEFITS
(“OPEB”) FUNDING POLICY
WHEREAS, the City offers OPEB benefits in the form of retiree healthcare; and WHEREAS, the City Council desires to develop a policy for making its OPEB obligations fiscally sustainable; and
WHEREAS, the City has established a PARS Employee Retirees Trust to reserve funds to finance future retiree healthcare obligations; and
WHEREAS, the City has contracted for and received an actuarial valuation to determine an annual required contribution to move the City towards funding its retiree healthcare obligations; and
WHEREAS, City staff hereby recommends that the City Council approves and adopts the OPEB Funding Policy attached hereto as Exhibit “A”, to achieve funding of the annual required contribution in each fiscal year.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Patterson hereby approves and adopts the OPEB Funding Policy attached hereto as Exhibit “A”.
The foregoing resolution was introduced at a regular meeting of the City Council of the City of Patterson held on the 15th day of March 2022, by _________________, who moved its adoption, which motion was duly seconded by ________________, and it was upon roll call carried and the resolution adopted by the following roll call vote:
AYES:
NOES:
EXCUSED:
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APPROVED:
_____________________________________
Dennis McCord
Mayor of the City of Patterson
ATTEST:
__________________________________________
Aracely Alegre
City Clerk of the City of Patterson
I hereby certify that the foregoing is a full, correct, and true copy of a resolution passed by the City Council of the City of Patterson, a Municipal Corporation of the County of Stanislaus, State of California, at a regular meeting held on the 15th day of March 2022, and I further certify that said resolution is in full force and effect and has never been rescinded or modified.
DATED:
____________________________
City Clerk of the City of Patterson