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File #: ID-2018-314    Version: 1 Name:
Type: CC Resolution Status: Passed
File created: 5/29/2018 In control: City Council
On agenda: 6/19/2018 Final action: 6/19/2018
Title: Resolution Of The City Council Of The City Of Emeryville Adopting The Investment Guidelines For The City’s Section 115 Pension Trust, Authorizing The Transfer Of $9,700,000 To PARS By August 31, 2018 To Establish The Pension Trust, And Appropriating $7,275,000 From the PERS Reserve Fund (Fund 715) To The Fiscal Year 2018-19 Budget. (Susan Hsieh)
Attachments: 1. Staff Report, 2. Draft Resolution, 3. Investment Guidelines Document, 4. APPROVED Resolution No. 18-64

Title

Resolution Of The City Council Of The City Of Emeryville Adopting The Investment Guidelines For The City’s Section 115 Pension Trust, Authorizing The Transfer Of $9,700,000 To PARS By August 31, 2018 To Establish The Pension Trust, And Appropriating $7,275,000 From the PERS Reserve Fund (Fund 715) To The Fiscal Year 2018-19 Budget.  (Susan Hsieh)

Recommended Action

Staff recommends that the City Council approve the attached Investment Guidelines Document and authorize staff to transfer $9.7 million to PARS by August 31, 2018 to establish a Section 115 Pension Trust.