HomeMy WebLinkAboutReso 48-17 Adoption of Public Agencies Post-Employment Benefits by Public Agency Retirement Services (PARS) RESOLUTION NO. 48 — 17
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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APPROVING THE ADOPTION OF THE PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS
TRUST ADMINISTERED BY PUBLIC AGENCY RETIREMENT SERVICES (PARS)
WHEREAS, 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 Dublin ("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'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, BE IT RESOLVED THAT:
1. The City Council hereby adopts the PARS Public Agencies Post-Employment Benefits
Trust, effective May 2, 2017; and
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
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.
PASSED, APPROVED AND ADOPTED this 2nd day of May 2017, by the following vote:
AYES: Councilmembers Biddle, Goel, Gupta, Hernandez and Mayor Haubert
NOES:
ABSENT:
ABSTAIN:
Reso No. 47-17, Adopted 5/2/2017, Item No. 8.1 Page 1 of 1
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ATTEST:
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City Clerk
Reso No. 47-17, Adopted 5/2/2017, Item No. 8.1 Page 2 of 1