City Council

11J. REPEAL RESOLUTION 25-86 AND ADOPT RESOLUTION 25-111 TO SELECT PUBLIC AGENCY RETIREMENT SERVICES (PARS) AS THE CITY’S SECTION 115 PENSION INVESTMENT TRUST ADMINISTRATOR, IMPLEMENT AN INVESTMENT STRATEGY ACCORDING TO THE RECOMMENDATIONS OF THE INVESTMENT ADVISORY COMMITTEE, APPROVE AND AUTHORIZE EXECUTION OF RELATED AGREEMENTS, AND FUNDING THE TRUST Staff Recommendation Repeal Resolution No. 25-86 and Adopt Resolution 25-111, which would: 1. Appoint the City Treasurer, as the City’s Plan Administrator for the Section 115 Trust. 2. Adopt the PARS Public Agencies Post-Employment Benefits Trust dated November 5, 2014. 3. Appoint the Public Agency Retirement Services (PARS) to serve as the Trust Administer of the City’s Section 115 Pension Investment Trust Fund. 4. Approve the Investment Advisory Committee recommendation to select the Capital Appreciation portfolio within the Tactical Management investment strategy. 5. Approve the PARS agreement documents, provided as attachments to the Administrative Report dated August 5, 2025, and on file with the City Clerk. 6. Authorize the City Treasurer to execute the agreements between the City of San Clemente, Public Agency Retirement Services (PARS) and US Bank, specifically the: a. PARS Agreement for Administrative Services b. PARS Adoption Agreement c. PARS Trustee Investment Management Fee Schedule d. US Bank Authorized Signers Form e. US Bank Investment Strategy Selection and Disclosure Form 7. Authorize the preliminarily funding of the 115 Trust in the amount of $1.18 million from General Fund account number 001-203-48630.