City Council

11. Establish Pension Trust Goals and Funding Plan Click to View\nPrepared by: Matt Burton, Director of Finance and Administrative Services\nRecommendation:\n1. Establish a goal and funding plan for Pension Trust assets to fully offset unfunded\nCalPERS pension liabilities by 2030; and\n2. Authorize investments in the attached PARS Moderate portfolio; and\n3. Approve a one-time transfer of $2.5 million from the City's General Fund assigned fund\nbalance for the Pandemic Recovery Plan to the Employee Benefits Fund for investment in\nthe Pension Trust; and\n4. Approve a one-time transfer of $2 million from the City's Infrastructure Bank to the\nEmployee Benefits Fund for investment in the Pension Trust.