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RESOLUTION NO.7727
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RIALTO, CALIFORNIA, APPROVING THE ADOPTION OF THE
PUBLIC AGENCIES POST -EMPLOYMENT BENEFITS TRUST
ADMINISTERED BY PUBLIC AGENCY RETIREMENT
SERVICES (PARS)
WHEREAS, the City of Rialto (the “City”) is currently participating in the Public Agencies Post- Retirement Health Care Plan Trust for the pre -funding of its retiree health benefits and other post - employment benefits other than pension benefits (“OPEB”); and WHEREAS, the City desires to set aside funds for the purpose of pre -funding its CalPERS pension obligation that will be held in trust for the exclusive purpose of making future contributions of the City’s required pension contributions and any employer contribution s in excess of such required contributions at the discretion of the City; and
WHEREAS, PARS has made available the Public Agencies Post-Employment Benefits Trust (the “Program”) for the purpose of pre-funding both pension obligations and/or OPEB obligations as specified in the City’s plans, policies and/or applicable collective bargaining agreements; and WHEREAS, the 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 can manage the pre-funding of its pension and OPEB obligations in a single trust under this Program, thereby gaining administrative and cost efficiencies; 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.
DocuSign Envelope ID: AA035F79-8E0B-42C4-9B28-73269480C11A
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RIALTO DOES HEREBY FIND, DETERMINE, AND RESOLVE AS FOLLOWS:
1. The City Council hereby adopts the Public Agencies Post -Employment Benefits Trust, effective April 27, 2021; and
2. The City Council hereby appoints the Acting City Manager , or his/her successor or his/her designee as the City’s Plan Administrator for the Program; and
3. The City’s Plan Administrator is hereby authorized to 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 pa rticipation 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; and
4. The City Council, in accordance with Section 3.3 of the Public Agencies Post -Retirement Health Care Plan Trust adopted effective June 9, 2009, hereby authorizes the withdrawal from said trust and directs the transfer of City assets held in said trust to the OPEB Account established i n the name of the City under the Public Agencies Post-Employment Benefits Trust, adopted herewith. \\\\
DocuSign Envelope ID: AA035F79-8E0B-42C4-9B28-73269480C11A
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PASSED APPROVED AND ADOPTED
this
27 th
day of April, 2021.
_______________________________
DEBORAH ROBERTSON, Mayor
ATTEST:
______________________________
BARBARA McGEE, City Clerk
APPROVED AS TO FORM:
______________________________
ERIC VAIL, Interim City Attorney
DocuSign Envelope ID: AA035F79-8E0B-42C4-9B28-73269480C11A
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STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO ) ss
CITY OF RIALTO )
I, Barbara McGee, City Clerk of the City of Rialto, do hereby certify that the foregoing Resolution No.7727 was duly passed and adopted at a regular meeting of the City Council of the City of Rialto held on the 27th day of April, 2021.
Upon motion of Mayor Pro Tem Scott, seconded by Council Member Perez, the foregoing Resolution No. 7727 was duly passed and adopted.
Vote on the motion:
AYES: Mayor Robertson, Mayor Pro Tem Scott, Council Member Trujillo, Carrizales and Perez NOES: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand and the Official Seal of the City of Rialto this 28th day of April, 2021.
____________________________________
BARBARA McGEE, CITY CLERK
DocuSign Envelope ID: AA035F79-8E0B-42C4-9B28-73269480C11A