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Council adopts PARS 115 trust to prefund CalPERS costs; staff to set investment strategy
Summary
The council voted 5–0 to create a PARS 115 trust to prefund CalPERS pension liabilities using a midyear set‑aside; PARS presenters outlined investment options, fees (0.6% total) and allowable uses, and staff said funds could reimburse the general fund for pension payments when needed.
The Wildomar City Council unanimously adopted a resolution to establish a PARS 115 trust designed to prefund the city’s CalPERS obligations and stabilize future pension costs.
Finance Manager Adam Jantz introduced the resolution and said the city set aside roughly $900,900 midyear to begin addressing unfunded pension liabilities. "We bring to you tonight a resolution to establish that," Jantz said.
Rachel Sanders, vice president of…
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