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Del Norte supervisors approve Section 115 trust with PARS to prefund pension and OPEB liabilities
Summary
The Board of Supervisors unanimously approved establishing a Section 115 combination trust and an administrative-services agreement with Public Agency Retirement Services (PARS) to prefund pension and other post‑employment benefits; board and public speakers pressed for more public performance and fee information before funds are transferred.
The Del Norte County Board of Supervisors voted unanimously Jan. 14 to establish a Section 115 combination trust and to enter an administrative‑services agreement with Public Agency Retirement Services (PARS) to prefund pension and other post‑employment benefits.
The action, item 21 on the agenda, creates a county trust administered by PARS, appoints the county administrative officer as plan administrator, and directs staff to work with PARS while the proactive financial management technical advisory committee will monitor investment strategy. Supervisor Short made the motion; the board approved the measure 5-0.
County leaders said the trust is intended to provide greater investment flexibility and potentially higher returns than the county’s current holdings invested through CalPERS, reducing the need for the county or employees to shoulder increased costs when statewide returns…
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