RESOLUTION NO. 26-145
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN CLEMENTE, CALIFORNIA, APPROVING THE CITY’S REVISED PENSION INVESTMENT POLICY NO. 202-2 WHEREAS, Government Code Section 53646 states that any change in the investment policy shall be considered by the governing body of the local agency at a public meeting; and WHEREAS, the last time the City Council approved the City’s Pension Investment Policy No. 202-2 was December 18, 2013; and WHEREAS, since adoption of the existing Pension Investment Policy, the City’s pension plan structure has changed following the transition of all active City of San Clemente Employee Retirement Plan (“CSCERP”) participants to CalPERS, leaving CSCERP with no active participants and consisting solely of retired and inactive members; and WHEREAS, the proposed revisions to the Pension Investment Policy update the policy to reflect the current structure of CSCERP and clarify governance and investment oversight responsibilities, including the roles of the Pension Committee, Investment Advisory Committee, investment manager, investment consultant, and custodian; and WHEREAS, the proposed revisions also establish updated investment reporting requirements to support ongoing monitoring of investment performance, asset allocation, benchmarks, and compliance with the Pension Investment Policy; and WHEREAS, City Council has reviewed the proposed Pension Investment Policy at its regular meeting of September 1, 2026 and heard and considered any public comment regarding the same.
NOW, THEREFORE, the City Council of the City of San Clemente does hereby find, determine and resolve as follows:
SECTION 1. The revised City Pension Investment Policy for the City of San Clemente Employee Retirement Plan, attached hereto as Exhibit A, is fully incorporated herein and hereby approved and adopted.
SECTION 2. Former Policy and Procedure 202-2 adopted December 18, 2013, and any prior resolutions, policies, or provisions in conflict with the revised City Pension Investment Policy adopted herein, are hereby repealed and replaced and of no further force and effect effective immediately.
SECTION 3. The City Clerk shall certify to the passage and adoption of this resolution and enter it into the book of original resolutions.
PASSED AND ADOPTED this _____ day of ____________________, 2026.
ATTEST:
___________________________ __________________________
City Clerk of the City of Rick Loeffler, Mayor of the City of San Clemente, California San Clemente, California
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) §
CITY OF SAN CLEMENTE )
I, LAURA CAMPAGNOLO, City Clerk of the City of San Clemente, California, do hereby certify that Resolution No. 26-145 was adopted at a regular meeting of the City Council of the City of San Clemente held on the _______ day of _______________________, _________, by the following vote:
AYES:
NOES:
ABSENT:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Clemente, California, this _____ day of _________________, ________. __________________________
CITY CLERK of the City of
San Clemente, California
Approved as to form:
___________________________
Elizabeth A. Mitchell, City Attorney
Resolution No. 26-145 Page 2
Attachment 1