Resolution 14887CITY OF ALAMEDA RESOLUTION NO. 14887
AUTHORIZING THE ESTABLISHMENT OF AN INTERNAL REVENUE
CODE SECTION 115 IRREVOCABLE TRUST WITH PUBLIC
AGENCY RETIREMENT SERVICES (PARS) TO PREFUND POST
EMPLOYMENT BENEFITS FOR ELIGIBLE RETIREES
WHEREAS it is determined to be in the best interest of the City of Alameda (the
"City") to participate in the PARS Public Agencies Post-Retirement Health Care Plan
Trust (the "Program") to fund post-employment benefits for its employees as specified
in the City's policies and/or applicable collective bargaining agreements; and
WHEREAS the City is eligible to participate in the Program, a tax-exempt trust
and plan performing an essential governmental function within the meaning of Section
115 of the Internal Revenue Code, as amended, and the Regulations issued
thereunder, and is a tax-exempt trust under the relevant statutory provisions of the
State of California.
NOW, THEREFORE, BE IT RESOLVED THAT that the City Council takes the
following actions:
1. Adopts the PARS Public Agencies Post-Retirement Health Care Plan
Trust, including the PARS Public Agencies Post-Retirement Health Care
Ran, as part of the City Retirement Program, effective March 2014; and
2. Appoints the City Manager and Finance Director or their designees as
the City's Plan Administrators for the Program; and
3. The City's Plan Administrators are 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 them to take whatever additional
actions are required to administer the City's PARS plan(s).
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in a regular
meeting assembled on the 4th day of February 2014, by the following vote to wit:
AYES: Councilmembers Chen, Daysog, Ezzy Ashcraft, Tam and
Mayor Gilmore — 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the seal of
said City this 5th day of February, 2014.
Lara Weisiger, tom` Ierk
City of Alameda