County of Monterey - File #: RES 20-156

• File #: RES 20-156
• Name: Adopt a resolution to: a. Accept the delegation of certain limited program administration duties with regard to the Fort Ord Reuse Authority (FORA) PARS Public Agencies Post-Employment Benefits Trust, effective July 1, 2020, subject to the limitations se
• Type: BoS Resolution
• Status: Passed - RMA Administration
• File created: 9/14/2020
• In control: Board of Supervisors
• On agenda: 9/22/2020
• Final action: 9/22/2020
• Title: Adopt a resolution to: a. Accept the delegation of certain limited program administration duties with regard to the Fort Ord Reuse Authority (FORA) PARS Public Agencies Post-Employment Benefits Trust, effective July 1, 2020, subject to the limitations set forth in the resolution, for the purpose of authorizing release of the assets held in the Section 115 Trust to CalPERS and thereafter terminating FORA's Adoption Agreement for the Post-Employment Section 115 Trust; and b. Appoint the County Administrative Officer or his/her designee as the Plan Administrator for these limited purposes.

Date	Action By	Action	Result
9/22/2020	Board of Supervisors

Title
Adopt a resolution to:
a. Accept the delegation of certain limited program administration duties with regard to the Fort Ord Reuse Authority (FORA) PARS Public Agencies Post-Employment Benefits Trust, effective July 1, 2020, subject to the limitations set forth in the resolution, for the purpose of authorizing release of the assets held in the Section 115 Trust to CalPERS and thereafter terminating FORA's Adoption Agreement for the Post-Employment Section 115 Trust; and
b. Appoint the County Administrative Officer or his/her designee as the Plan Administrator for these limited purposes.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Accept the delegation of certain limited program administration duties with regard to the Fort Ord Reuse Authority (FORA) PARS Public Agencies Post-Employment Benefits Trust, effective July 1, 2020, subject to the limitations set forth in the resolution, for the purpose of authorizing release of the assets held in the Section 115 Trust to CalPERS and thereafter terminating FORA's Adoption Agreement for the Post-Employment Section 115 Trust; and
b. Appoint the County Administrative Officer or his/her designee as the Plan Administrator for these limited purposes.

SUMMARY:
Adoption of this resolution will enable the County to authorize the release of FORA's Section 115 Trust assets to the California Public Employees' Retirement System (CalPERS) at the appropriate time and to terminate FORA's Section 115 trust agreement after the trust assets have been distributed. The resolution also appoints the County Administrative Officer (CAO) or his or her designee as the "Plan Administrator" to carry out these functions. This action will enable the County to carry out a responsibility assigned to the County and previously agreed to by the County as part of the Fort Ord Reuse Authority (FORA) dissolution.

DISCUSSION
In 2018, FORA set aside funds in a trust (the "Section 115 Trust") for...