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Board adopts resolution to place $779,000 into post‑employment trust and selects moderate investment blend
Summary
The board adopted Resolution 24‑22 to make a one‑time $779,000 transfer from unrestricted general fund cash into a public agency post‑employment trust and directed staff to select a "moderate strategic blend" investment strategy with PARS as administrator.
Staff framed the item as the final action needed to enroll in the public agency post‑employment trust (PARS) selected earlier in the year. Staff explained the trust is irrevocable and dedicated to future pension contributions; staff recommended the "moderate strategic blend" investment option, described as roughly 40–60% equities and the remainder fixed income/cash with an active management platform. The $779,000 figure was presented as 50% of 3% of an accrued‑liability calculation (50% of 3% of $51.9 million = $779,000) to meet an initial minimum funding target across two years.
Directors asked clarifying questions about irrevocability and allowable uses; staff said funds could only be used for the stated post‑employment purposes and that the district would return in 2025 to recommend next steps toward the minimum funded target. The board adopted the resolution by roll call (unanimous), directing staff to implement the moderate strategic blend with US Bank sub‑advisers and to make the one‑time transfer.
