HomeMy WebLinkAboutCC RESO 2019-135RESOLUTION NO. 2019 — 135
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY 1) APPROVING
THE FIRST AMENDMENT TO THE AGREEMENT WITH PHASE II SYSTEMS DBA PUBLIC
AGENCY RETIREMENT SERVICES WITH A MUTUAL INDEMNITY AND HOLD HARMLESS
PROVISION FOR OTHER POST -EMPLOYMENT BENEFITS TRUST ADMINISTRATION
SERVICES FOR THE PERIOD OF SEPTEMBER 18, 2019 THROUGH DECEMBER 31, 2020,
2) APPROVING THE AMENDED ADOPTION AGREEMENT FOR THE PUBLIC AGENCIES
POST -EMPLOYMENT BENEFITS TRUST AGREEMENT, AND 3) AUTHORIZING THE CITY
MANAGER TO EXECUTE THE DOCUMENTS
WHEREAS, the City employed a consultant to provide comprehensive trust
administration services for the City's irrevocable supplemental pension trust (the "Trust")
for the period of December 20, 2017 through December 31, 2020; and
WHEREAS, the City determined that Phase II Systems dba Public Agency
Retirement Services (PARS) is an administrator of irrevocable supplemental pension
trusts and is qualified by experience and ability to perform the services desired by the
City, and PARS is willing to perform such services; and
WHEREAS, the agreement contains a mutual indemnity and hold harmless
provision with compensation deducted from the Trust's assets; and
WHEREAS, on December 19, 2017, per Resolution 2017-243, the City
Council authorized the Mayor to Execute an agreement with a mutual indemnity and hold
harmless provision with Phase II Systems dba Public Agency Retirement Services to
provide pension trust administration; and
WHEREAS, at the Special Meeting of the City Council on April 24, 2019,
the City Council approved the assignment of $3.1 million of General Fund fund balance
to establish an irrevocable post -employment benefits (OPEB) trust; and
WHEREAS, staff recommends amending City Council Policy #201,
"Maintenance of Reserves," to add "Irrevocable Other Post -Employment Benefits Trust
Reserve" to the City's reserves and establish a target level for the trust of an amount
equal to the total net liability of the City's OPEB plans.
NOW, THEREFORE, BE IT RESOLVED that the City Council hereby
approves the first amendment to the Agreement with Phase II Systems dba Public Agency
Retirement Services with a mutual indemnity and hold harmless provision for other post -
employment benefits trust administration services for the period of September 18, 2019
through December 31, 2020.
BE IT FURTHER RESOLVED that the City Council hereby approves the
amended adoption Agreement for the Public Agencies Post -Employment Benefits Trust
Agreement.
Resolution No. 2019 — 135
Page Two
BE IT FURTHER RESOLVED that the City Council authorizes the City
Manager to execute the documents.
PASSED and ADOPTED this 17th day of Se •tember 2
Alejandr. ► ' o" olis, Mayor
ATTEST:
? Michael
Dalla, City Clerk
APPROVED AS TO FORM:
Mo r -J
ttorney
Passed and adopted by the Council of the City of National City, California, on
September 17, 2019 by the following vote, to -wit:
Ayes: Councilmembers Cano, Morrison, Quintero, Rios, Sotelo-Solis.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: ALEJANDRA SOTELO-SOLIS
Mayor of the City of National City, California
City Clerk of the City of National City, California
By:
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2019-135 of the City of National City, California, passed and
adopted by the Council of said City on September 17, 2019.
City Clerk of the City of National City, California
By:
Deputy