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Council directs financial analysis of options for Section 115 pension prefunding
Summary
The council instructed staff to perform a financial analysis laying out scenarios for using a Section 115 trust and other investment options to prefund pension and OPEB liabilities; the motion passed 4‑0.
Councilmembers asked staff on March 18 to prepare a financial analysis that compares options for investing city reserves, including the use of a Section 115 pension trust, to prefund pension and other post‑employment benefits (OPEB).
Acting Finance Director Maria Luis Olia provided a background on a Section 115 trust—an IRS‑authorized vehicle some local governments use to prefund liabilities—and noted the city previously established a…
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