Laserfiche WebLink
City of San Leandro <br />City Council <br />Meeting Date: September 2, 2025 <br />Agenda Number: 5.f. <br />Agenda Section: CONSENT CALENDAR <br />File Number: 25-388 <br />File Type: Resolution - Council <br />Adopt a Resolution Accepting the §115 OPEB (Other Post-Employment Benefits) Trust and Pension <br />Trust Investment Report for the Quarter Ended March 31, 2025 <br />COUNCIL PRIORITY <br />Fiscal Sustainability and Transparency <br />SUMMARY <br />Review and accept the City’s §115 OPEB (Other Post-Employment Benefits) Trust and Pension <br />Trust Investment Report for the Quarter Ended March 31, 2025. <br />RECOMMENDATIONS <br />Staff recommends the City Council adopt the resolution accepting the OPEB Trust and Pension <br />Trust investment Report for the quarter ended March 31, 2025. <br />BACKGROUND <br />OPEB Trust <br />In 2008-2009, the City established the §115 OPEB Trust with Public Agency Retirement Services <br />(PARS). The Trust’s primary purpose is to accumulate resources to generate investment income <br />for funding the City’s future OPEB obligations. The trust account was set up with an initial <br />contribution of $500,000, and the City has been proactively funding these future liabilities. Since it <br />was established, the City Council has authorized various contributions into the trust. At the end of <br />March 2025, assets in the OPEB Trust total $22,582,546, including contributions and investment <br />earnings. The 3-month investment return is 1.25%, and the inception-to-date investment return is <br />4.53%. Due to a change in account status, inception of the fund is measured with a start date of <br />August 1, 2015. <br />Pension Trust <br />In 2021, the City Council established the Section 115 Pension Trust with PARS. The goal is to set <br />aside and accumulate investment earnings to be strategically used to offset unfunded CalPERS <br />pension liabilities. At the end of March 2025, assets in the Pension Trust totaled $32,845,489, <br />including contributions since the inception of the fund in September 2021, and investment <br />earnings. The 3-month investment return is 0.22%, and the inception-to-date investment return is <br />2.19%. <br />Page 1 City of San Leandro Printed on 9/4/2025