RESOLUTION NO._____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIALTO, CALIFORNIA, ADOPTING THE PENSION FUNDING POLICY AND INVESTMENT STRATEGY FOR THE CITY OF RIALTO SECTION 115 TRUST WHEREAS, Resolution No. 7727 authorizing the Establishment of a Section 115 Trust to be used as a Rate Stabilization Fund for the City’s Pension Obligations was approved on April 27, 2021; and WHEREAS, a Pension Funding Policy is required to fund the Section 115 Trust; and WHEREAS, the City Council desires to approve the Pension Funding Policy; and WHEREAS, the City Council desires to set the investment strategy to Moderate for the Section 115 Trust.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RIALTO DOES HEREBY FIND, DETERMINE, AND RESOLVE AS FOLLOWS:
Section 1: The City Council hereby approves the Pension Funding Policy as presented in Attachment A.
Section 2: The City Council hereby selects the “Moderate” investment strategy for the Section 115 Trust and authorizes the City Manager to execute all documents required to implement the investment strategy. The City Manager and Director of Finance shall provide periodic reports to the City Council on the performance of the Section 115 Trust and identify and recommended changes to the investment strategy for future consideration by the City Council. A change in the investment strategy shall require City Council approval.
Section 3: This Resolution shall be effective upon its adoption. \\\\\
PASSED APPROVED AND ADOPTED this 14th day of June, 2022. _______________________________
Deborah Robertson, Mayor
ATTEST:
______________________________
BARBARA McGEE, City Clerk
APPROVED AS TO FORM:
______________________________
ERIC VAIL, City Attorney
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._____ was duly passed and adopted at a regular meeting of the City Council of the City of Rialto held on the 14th day of June, 2022.
Upon motion of Councilmember ____________, seconded by Councilmember _______________, the foregoing Resolution No. _______ was duly passed and adopted.
Vote on the motion:
AYES:
NOES:
ABSENT:
IN WITNESS WHEREOF, I have hereunto set my hand and the Official Seal of the City of Rialto this _____ day of _________________, 2022. ____________________________________
BARBARA McGEE, City Clerk
“ATTACHMENT A”
PENSION FUNDING POLICY
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