HomeMy WebLinkAboutCC RES 17-11 RESOLUTION NO. 17-11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, CALIFORNIA APPROVING THE ADOPTION OF
THE PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS
TRUST ADMINISTERED BY PUBLIC AGENCY
RETIREMENT SERVICES (PARS)
WHEREAS, Public Agency Retirement Services (PARS) has made available the
PARS Public Agencies Post-Employment Benefits Trust (the "Program") for the purpose
of pre-funding pension obligations and/or OPEB obligations; and
WHEREAS, the City of Tustin ("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
w California; 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.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUSTIN DOES
RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The City Council hereby adopts the PARS Public Agencies Post-
Employment Benefits Trust, effective April 18, 2017; and
SECTION 2. The City Council hereby appoints the City Manager, or his/her
successor or his/her designee as the City's Plan Administrator for the Program; and
SECTION 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 participation in the Program and
to maintain compliance with any relevant regulation issued or as may be issued;
Resolution No. 17-11
I Page 1 of 2
therefore, authorizing him/her to take whatever additional actions are required to
administer the City's Program.
PASSED AND ADOPTED at a regular meeting of the City Council held on the 18th
r
day of April, 2017.
DR. ALLAN BERNSTEIN,
Mayor
ATTEST:
Y
ERICA N. RABE,
City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE ) SS
CITY OF TUSTIN }
I, Erica N. Rabe, City Clerk and ex-officio Clerk of the City Council of the City of Tustin,
California, do hereby certify that the whole number of the members of the City Council of
the City of Tustin is five;that the above and foregoing Resolution No. 17-11 was duly passed .r
and adopted at a regular meeting of the Tustin City Council, held on the 18th day of April,
2017 by the following vote:
COUNCILMEMBER AYES: { s y
COUNCILMEMBER NOES: { 0 as
COUNCILMEMBER ABSTAINED: ( a)
COUNCILMEMBER ABSENT: t a f
ERI N. RABE,
City Clerk
Wo
Resolution No. 17-11
Page 2 of 2