City Council

1.h. Resolution Approving the Adoption of the Multiple\nEmployer OPEB/Pension 115 Trust Administered by\nShuster Advisory Group, LLC Fiscal Impact: Estimated\nsavings of $293,000 over 10-years, $1.1 million over 20-\nyears, and $2.9 million over 30-years\nRecommended Action: It is recommended that the City\nCouncil:\n1) Adopt Resolution 2023-67 approving the adoption of\nthe Multiple Employer OPEB/Pension 115 Trust\nadministered by Shuster Advisory Group, LLC and the\ndiscontinuance of the City’s current participation in\nthe PARS Post-Retirement Health Care Plan Trust\nadministered by Public Agency Retirement Services\n("PARS") and U.S Bank; and\n2) Direct staff to return to City Council with an update to\nPolicy 431, “Section 115 Funding Policy”, incorporating\nan OPEB and pension mitigation funding strategy.\nStaff Report\nResolution R-2023-67