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2016-052 - Approving the Adoption of the Public Agencies Post-Employment Benefits
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2016-052 - Approving the Adoption of the Public Agencies Post-Employment Benefits
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6/23/2016 9:44:47 AM
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6/23/2016 9:44:32 AM
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City Clerk
Doc Type
Resolution
Doc #
2016-052
Date
6/21/2016
Destruction Year
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jmf 06/2/2016 <br />RESOLUTION NO. 2016 -052 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE ADOPTION OF THE PUBLIC <br />AGENCIES POST - EMPLOYMENT BENEFITS TRUST <br />ADMINISTERED BY PUBLIC AGENCY RETIREMENT <br />SERVICES (PARS) <br />WHEREAS, PARS has made available the PARS Public Agencies Post - <br />Employment Benefits Trust (the "Program ") for the purpose of pre- funding pension <br />obligations and /or other post - employment benefits ( "OPEB ") obligations; and <br />WHEREAS, the City of Santa Ana is eligible to participate in the Program, a tax - <br />exempt trust performing an essential governmental function within the meaning of <br />Section 115 of the Internal Revenue Code, as amended, and the Regulations issued <br />thereunder, and is a tax - exempt trust under the relevant statutory provisions of the State <br />of California; and <br />WHEREAS, the City's adoption and operation of the Program has no effect on <br />any current or former employee's entitlement to post - employment benefits; and <br />WHEREAS, the terms and conditions of post - employment benefit entitlement, if <br />any, are governed by contracts separate from and independent of the Program; and <br />WHEREAS, the City's funding of the Program does not, and is not intended to, <br />create any new vested right to any benefit nor strengthen any existing vested right; and <br />WHEREAS, the City reserves the right to make contributions, if any, to the <br />Program. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA AS FOLLOWS: <br />Section 1. The City Council hereby adopts the PARS Public Agencies Post - <br />Employment Benefits Trust, effective June 21, 2016. <br />Section 2. The City Council hereby appoints the City Manager, or his or her <br />designee, as the City's Plan Administrator for the Program. <br />Section 3. The City's Plan Administrator is hereby authorized to execute the <br />PARS legal and administrative documents on behalf of the City and to take whatever <br />additional actions are necessary to maintain the City's participation in the Program and <br />to maintain compliance of any relevant regulation issued or as may be issued; therefore, <br />authorizing him or her to take whatever additional actions are required to administer the <br />City's Program. <br />Resolution No. 2016 -052 <br />Page 1 of 2 <br />
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