REPORT TO SHASTA COUNTY BOARD OF SUPERVISORS

BOARD MEETING DATE:  January  23, 2018
CATEGORY:  Consent - General Government-1.

SUBJECT:

Closing the County's CalPERS Employers Retiree Benefit Trust and moving the assets to the PARS Public Agencies Post-Retirement Health Care Plan trust.

Supervisorial District No. :  All

DEPARTMENT CONTACT:  Brian Muir, Auditor-Controller, (530) 225-5541

STAFF REPORT APPROVED BY:  Brian Muir, Auditor-Controller

RECOMMENDATION

Adopt a resolution which: (1) Repeals Resolution No. 2008-139; and (2) authorizes the County Executive Officer and the County Auditor-Controller to close the CalPERS California Employers Retiree Benefit Trust and transfer the assets to the PARS Public Agencies Post-Retirement Health Care Plan.

SUMMARY

N/A

DISCUSSION

Combining the two Other Post Employment Benefit (OPEB) trusts will potentially create an increased rate of return and contribute to reducing the County's unfunded OPEB liability.

ALTERNATIVES

OTHER AGENCY INVOLVEMENT

The County Administrative Office has reviewed the recommendation.

FINANCING

There is no General Fund impact with adoption of the resolution.