City Council

CC 19. Resolution Approving the Adoption of the Multiple Employer OPEB/Pension 115 Trust Administered by Shuster Advisory Group, LLC Recommendation(s): Staff recommends City Council adopt Resolution 23-XX approving the adoption of the Multiple Employer OPEB/Pension 115 Trust administered by Shuster Advisory Group and the discontinuance of the City’s current participation in the California Employers’ Retiree Benefit Trust (CERBT) administered by California Public Employee’s Retirement System (CalPERS). Shuster Advisory Group, LLC is an independent investment advisory firm and fiduciary. They provide governmental and institutional retirement plan consulting services as well as private wealth management. Shuster is a SEC-Registered Investment Advisor with over $5 billion in assets under management focusing on serving the unique needs of governmental agencies and special districts. Shuster serves as investment fiduciary to over 60 governmental agencies and special districts providing investment selection, monitoring and management, and provides plan consulting and participant services. PUBLIC HEARING