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Council approves Section 115 trust investment policy and hires Shuster Advisory for cash reserves
Summary
Council voted unanimously to adopt an investment allocation and policy statement for a Section 115 trust (OPEB/pension stabilization) and to contract Shuster Advisory Group as the city's investment advisor for the cash operating reserve portfolio, with presenters noting customizable portfolios and low flat fees.
Huntington Park’s City Council on the same night approved steps to change how the city manages retirement and operating reserves, adopting a Section 115 trust investment allocation and authorizing Shuster Advisory Group to act as investment advisor for the city’s cash operating reserve portfolio.
Finance staff introduced the Section 115 option as a flexible, customizable trust structure designed…
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