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City of San Leandro <br />Meeting Date: June 7, 2021 <br />Resolution - Council <br />Agenda Section:File Number:21-360 ACTION ITEMS <br />Agenda Number: <br />TO:City Council <br />FROM:Fran Robustelli <br />City Manager <br />BY:Susan Hsieh <br />Finance Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:RESOLUTION of the City of San Leandro City Council Approving and Adopting <br />the Public Agencies Post-Employment Benefits Trust Administered by Public <br />Agency Retirement Services (PARS) for Pre-funding Pension Liabilities <br />(Program), Appointing the City Manager as the Plan's Administrator for the <br />Program, and Authorizing the City Manager as the Plan Administrator for the <br />Program to Execute the PARS Agreement and Other Administrative Documents <br />and to Take Other Additional Actions <br />WHEREAS, the City of San Leandro (the “City”) is currently participating in the Public <br />Agencies Post-Retirement Health Care Plan Trust for the pre-funding of its retiree health benefits <br />and other post-employment benefits other than pension benefits (“OPEB”); and <br />WHEREAS, the City desires to set aside funds for the purpose of pre-funding its CalPERS <br />pension obligation that will be held in trust for the exclusive purpose of making future contributions <br />of the City’s required pension contributions and any employer contributions in excess of such <br />required contributions at the discretion of the City; and <br />WHEREAS, PARS has made available the Public Agencies Post-Employment Benefits <br />Trust (the “Program”) for the purpose of pre-funding both pension obligations and/or OPEB <br />obligations as specified in the City’s plans, policies and/or applicable collective bargaining <br />agreements; and <br />WHEREAS, the City is eligible to participate in the Program, a tax-exempt trust performing <br />an essential governmental function within the meaning of Section 115 of the Internal Revenue <br />Code, as amended, and the Regulations issued there under, and is a tax-exempt trust under the <br />relevant statutory provisions of the State of California; and <br />WHEREAS, the City can manage the pre-funding of its pension and OPEB obligations in a <br />single trust under this Program, thereby gaining administrative and cost efficiencies; and <br />WHEREAS, the City’s adoption and operation of the Program has no effect on any <br />current or former employee’s entitlement to post-employment benefits; and <br />WHEREAS, the terms and conditions of post-employment benefit entitlement, if any, are <br />Page 1 City of San Leandro Printed on 6/4/2021 <br />193