HomeMy WebLinkAboutItem 4.11 Retiree Med Trust Disbursement or
19 82 STAFF REPORT CITY CLERK
` CITY COUNCIL File #720-60
DATE: September 16, 2014
TO: Honorable Mayor and City Councilmembers
FROM: Christopher L. Foss, City Manager "
SUBJECT: Update Designation of Positions Authorized To Approve Disbursements from the
CaIPERS Retiree Medical Trust
Prepared by Lisa Hisatomi, Assistant Director of Administrative Services
EXECUTIVE SUMMARY:
The City Council will update the designation of positions authorized to approve disbursements
from the CaIPERS Retiree Medical Trust.
FINANCIAL IMPACT:
None
RECOMMENDATION:
Staff recommends the City Council adopt the Resolution Delegating the Positions Authorized to
Request Disbursements from the California Public Employees Retirement Systems Other Post-
Employment Benefits Trust.
r
Submitted By \ Reviewed By
Administrative Services Director Assistant City Manager
DESCRIPTION:
At the May 15, 2007 City Council Meeting, the City Council authorized participation in the
California Public Employees Retirement Systems (CaIPERS) Other Post-Employment Benefits
Trust (Trust) for the management of funds invested and disbursed for health insurance
premiums of employees retired from the City of Dublin. This Trust complies with accounting
regulations as well as Internal Revenue Service requirements governing the establishment of an
irrevocable trust.
The City makes monthly payments to CaIPERS Health Benefits Division for retiree health
premiums. In order to be reimbursed by the Trust for such payments, the City is required to
submit a request for disbursement to the Trust. On July 17, 2007, the City Council delegated
authority to the Director of Administrative Services Director, or the Finance Manager, to request
such disbursements. The attached Resolution updates the delegation of authority by
Page 1 of 2 ITEM NO. 4.11
authorizing the Director of Administrative Services, or the Assistant Director of Administrative
Services, to request disbursements on behalf of the City.
Staff recommends that the City Council adopt the Resolution.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS: 1. Resolution Delegating the Positions Authorized to Request
Disbursements from the California Public Employees Retirement
Systems Other Post-Employment Benefits Trust
Page 2 of 2
RESOLUTION NO. xx - 14
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
DELEGATING THE POSITIONS AUTHORIZED TO REQUEST DISBURSEMENTS
FROM THE CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM (CaIPERS)
OTHER POST EMPLOYMENT BENEFITS (OPEB) TRUST:
WHEREAS, the City Council approved the adoption of Resolution 74-07 on May 15, 2007; and
WHEREAS, Resolution 74-07 authorized the City participation in the California Public Employees
Retirement (CalPERS) Other Post Employment Benefits Trust (OPEB); and
WHEREAS, the City will make contributions to the Trust for the purpose of funding retiree
medical benefits; and
WHEREAS,periodically the City will need to request disbursements from the Trust to reimburse
the City for eligible expenditures for Retiree Medical benefits; and
WHEREAS, CalPERS has developed a specific form for participating agencies to complete
identifying by position, two classifications which will be authorized to request disbursements from the
OPEB Trust; and
WHEREAS, Resolution 124-07 designated and authorized the incumbents in the positions of
Director of Administrative Services or Finance Manager to request disbursements from the OPEB Trust on
behalf of the City of Dublin.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin hereby
updates the City's delegation of authority by designating that the incumbents in the positions of Director of
Administrative Services or Assistant Director of Administrative Services shall be authorized to request
disbursements from the OPEB Trust on behalf of the City of Dublin.
BE IT FURTHER RESOLVED that the Mayor is authorized to execute and file the form
(attached hereto as Exhibit A) with California Public Employees Retirement System, in order to record
this action in a format acceptable to CalPERS.
PASSED, APPROVED AND ADOPTED this 16'' day of September, 2014, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
ATTACHMENT 1
ATTACHMENT 1
DELEGATION OF
TO REQUEST D SBURSEMEIN S
CAPERS
RESOLUTION
OF THE
City Council
(GOVERNING BODY)
OF THE
City of Dublin
(NAME OF EMPLOYER)
The City Council delegates to the incumbents
(GOVERNING BODY)
in the positions of Director of Administrative Services and
(TITLE)
Assistant Director of Administrative Services and/or
(TITLE)
authority to request on
(TITLE)
behalf of the Employer disbursements from the Other Post Employment Prefunding
Plan and to certify as to the purpose for which the disbursed funds will be used.
By
Title
Witness
Date
OPEB Delegation of Authority(1/13)