City Council

16. Participation in a Multiple Employer Other Post-Employment Benefits (OPEB)/Pension Section 115 Trust and Approval of Related Agreements with Global Retirement Partners, LLC d/b/a Shuster Advisory Group Recommendation: A. Adopt Resolution No. 2026-037 Approving the Multiple Employer OPEB/Pension Section 115 Trust administered by Shuster Advisory Group, LLC, for the purpose of pre-funding the City’s pension and OPEB obligations; and authorizing the transfer of the City’s current OPEB trust from the California Employers’ Retiree Benefit Trust (CERBT) administered by CalPERS; and B. Approve and authorize the City Administrator to execute the Trust Adoption Agreement for participation in the Multiple Employer OPEB/Pension Section 115 Trust and the related Investment Advisor Agreement with Global Retirement Partners, LLC, d/b/a Shuster Advisory Group, a HUB International Company (SHUSTER) and the Trust Administrative Services Agreement with Shuster Advisory Group, LLC, in substantially the same form as submitted. ORAL REPORTS