Title
Resolution No. 2024-15: Authorization to Establish an Other Post-Employment Benefits Trust with Public Agency Retirement Services
Recommendation
a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly;
b) Adopt Resolution No. 2024-15, A Resolution of the City Council of the City of Newport Beach, California, Adopting the Public Agencies Post-Employment Benefits Trust (PAPEBT) Administered by Public Agency Retirement Services (PARS), and Appointing the City Manager as the Plan Administrator; and
c) Authorize the City Manager to negotiate and execute the documents to implement the program.