HomeMy WebLinkAbout2021-12-14 - RESOLUTIONS - ADOPT PARSRESOLUTION 21-65
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
CLARITA, CALIFORNIA, APPROVING THE ADOPTION OF THE PUBLIC
AGENCIES POST -EMPLOYMENT BENEFITS TRUST ADMINISTERED BY
PUBLIC AGENCY RETIREMENT SERVICES
WHEREAS, the City of Santa Clarita (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 postemployment 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 contributions in
excess of such required contributions at the discretion of the City; and
WHEREAS, Public Agency Retirement Services (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.
NOW, THEREFORE, the City Council of the City of Santa Clarita, California, does
hereby resolve as follows:
SECTION 1. The City Council hereby adopts the Public Agencies Post -Employment
Benefits Trust, effective December 14, 2021.
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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.
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 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
SECTION 4. The City Council, in accordance with Section 3.3 of the Public Agencies
Post -Retirement Health Care Plan Trust adopted effective December 13, 2011, hereby authorizes
the withdrawal from said trust and directs the transfer of City assets held in said trust to the
OPEB Account established in the name of the City under the Public Agencies Post -Employment
Benefits Trust, adopted herewith.
PASSED, APPROVED, AND ADOPTED this 14th day of December 2021.
DATE: io-I112.11 Qt3j
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Mary Cusick, City Clerk of the City of Santa Clarita, do hereby certify that the
foregoing Resolution No. 21-65 was duly adopted by the City Council of the City of Santa
Clarita at a regular meeting thereof, held on the 14th day of December 2021, by the following
vote:
AYES:
NOES:
ABSENT:
COUNCILMEMBERS : Smyth, McLean, Miranda, Gibbs, Weste
COUNCILMEMBERS : None
COUNCILMEMBERS: None
rg, a
tdTY CLERK
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