CC RESOLUTION 5057 RESOLUTION NO. 5057
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL
SEGUNDO APPROVING THE ADOPTION OF THE PUBLIC
AGENCIES POST-EMPLOYMENT BENEFITS TRUST
ADMINISTERED BY PUBLIC AGENCY RETIREMENT SERVICES
(PARS)
The City Council of the City of EI Segundo does resolve as follows.
SECTION 1: The City Council finds and declares that:
A. PARS has made available the PARS Public Agencies Post-Employment Benefits Trust
(the "Program") for the purpose of pre-funding pension obligations and/or OPEB
obligations; and
B. The City of EI Segundo ("City") is eligible to participate in the Program, a tax-exempt
trust performing an essential governmental function within the meaning of Section 115
of the Internal Revenue Code, as amended, and the Regulations issued there under,
and is a tax-exempt trust under the relevant statutory provisions of the State of
California; and
C. The City's adoption and operation of the Program has no effect on any current or former
employee's entitlement to post-employment benefits; and
D. The terms and conditions of post-employment benefit entitlement, if any, are governed
by contracts separate from and independent of the Program; and
E. The City's funding of the Program does not, and is not intended to, create any new
vested right to any benefit nor strengthen any existing vested right; and
F. The City reserves the right to make contributions, if any, to the Program.
SECTION 2: Adoption:
A. The City Council hereby adopts the PARS Public Agencies Post-Employment Benefits
Trust, effective November 7, 2017; and
B. The City Council hereby appoints the City Manager, or his/her successor or his/her
designee as the City's Plan Administrator for the Program; and
C. The City's Plan Administrator is hereby authorized to execute the PARS legal and
administrative documents on behalf of the City and to take whatever additional actions
are necessary to maintain the City's participation in the Program and to maintain
compliance of any relevant regulation issued or as may be issued; therefore, authorizing
him/her to take whatever additional actions are required to administer the City's
Program.
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SECTION 3: The City Clerk is directed to certify the adoption of this Resolution; record this
Resolution in the book of the City's original resolutions; and make a minute of the adoption of
the Resolution in the City Council's records and the minutes of this meeting.
SECTION 4: This Resolution will become effective immediately upon adoption and will remain
effective unless repealed or superseded.
PASSED, APPROVED, AND ADOPTED RESOLUTION No. 5057 this 7th day of November
2017
u .an4 Fuentes,
ATTEST:
Traiy Wea,,j r, City Clerk
APPROVED AS TO FORM:
P (,
Mark D. Hensley, City - ,' 'ney
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CERTIFICATION
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ) SS
CITY OF EL SEGUNDO
I, Tracy Weaver, City Clerk of the City of EI Segundo, California, do hereby certify that the
whole number of members of the City Council of said City is five; that the foregoing Resolution
No. 5057 was duly passed and adopted by said City Council, approved and signed by the
Mayor, and attested to by the City Clerk, all at a regular meeting of said Council held on the Vh
day of November, 2017, and the same was so passed and adopted by the following vote:
AYES: Mayor Fuentes, Mayor Pro Tem Boyles, Council Member Brann, Council
Member Dugan, and Council Member Pirsztuk
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS MY HAND THE OFFICIAL SEAL OF SAID CITY this day of November,
2017.
Tracy Weaver, City Clerk
of the City of EI Segundo,
California
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