City Council

11J. \nREPEAL RESOLUTION 25-86 AND ADOPT RESOLUTION 25-111 TO\nSELECT PUBLIC AGENCY RETIREMENT SERVICES (PARS) AS THE CITY’S\nSECTION 115 PENSION INVESTMENT TRUST ADMINISTRATOR,\nIMPLEMENT AN INVESTMENT STRATEGY ACCORDING TO THE\nRECOMMENDATIONS OF THE INVESTMENT ADVISORY COMMITTEE,\nAPPROVE AND AUTHORIZE EXECUTION OF RELATED AGREEMENTS,\nAND FUNDING THE TRUST\nStaff Recommendation\nRepeal Resolution No. 25-86 and Adopt Resolution 25-111, which would:\n1. Appoint the City Treasurer, as the City’s Plan Administrator for the Section\n115 Trust.\n2. Adopt the PARS Public Agencies Post-Employment Benefits Trust dated\nNovember 5, 2014.\n3. Appoint the Public Agency Retirement Services (PARS) to serve as the Trust\nAdminister of the City’s Section 115 Pension Investment Trust Fund.\n4. Approve the Investment Advisory Committee recommendation to select the\nCapital Appreciation portfolio within the Tactical Management investment\nstrategy.\n5. Approve the PARS agreement documents, provided as attachments to the\nAdministrative Report dated August 5, 2025, and on file with the City Clerk.\n6. Authorize the City Treasurer to execute the agreements between the City of\nSan Clemente, Public Agency Retirement Services (PARS) and US Bank,\nspecifically the:\na. PARS Agreement for Administrative Services\nb. PARS Adoption Agreement\nc. PARS Trustee Investment Management Fee Schedule\nd. US Bank Authorized Signers Form\ne. US Bank Investment Strategy Selection and Disclosure Form\n7. Authorize the preliminarily funding of the 115 Trust in the amount of $1.18\nmillion from General Fund account number 001-203-48630.