pages: CityCouncil/2017-03-21.pdf, 19
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CityCouncil | 2017-03-21 | 19 | trust will remain in place until terminated by Council. Mayor Spencer inquired how much the consultant has been paid, to which the Finance Director responded she does not have that number. The Assistant City Manager stated he is the PARS Trust Administrator, not a consultant. Mayor Spencer inquired how will the PARS Trust Administrator be paid, to which the Assistant City Manager stated he will be paid as part of the fees in the Trust. Councilmember Matarrese moved adoption of the resolution and approval of the staff recommendation, with amendment to remove the incentive of taking 10% of department savings. Councilmember Oddie seconded the motion. Under discussion, Mayor Spencer requested the actions be considered separately. Councilmember Matarrese moved adoption of the resolution authorizing participation in the Public Agency Retirement Services (PARS) Post-Employment Benefits Trust to be used for prefunding of pension and Other Post-Employment Benefits (OPEB) obligation. Councilmember Oddie seconded the motion, which carried by unanimous voice vote - 5. Councilmember Matarrese moved approval of appointing the City Manager or her designee as the City's Plan Administrator for the Trust Program. Councilmember Oddie seconded the motion, which carried by unanimous voice vote - 5. Councilmember Matarrese moved approval of directing the City Manager to execute all necessary agreements and Plan documents associated with establishment of the new Trust. Councilmember Ezzy Ashcraft seconded the motion, which carried by unanimous voice vote 5. Councilmember Matarrese moved approval of adopting the pension rate stabilization program as listed, with the exception of 10% contribution from savings. Vice Mayor Vella seconded the motion, which carried by the following voice vote: Councilmembers Ezzy Ashcraft, Matarrese, Oddie, and Vice Mayor Vella - 4. Noes: Mayor Spencer - 1. CITY MANAGER COMMUNICATIONS Regular Meeting Alameda City Council March 21, 2017 | CityCouncil/2017-03-21.pdf |