File #: LM-2023-0648    Version: Name:
Type: Order Status: Passed
File created: 12/6/2023 In control: City Clerk
On agenda: Final action:
Title: ORDER OF THE NEW HAVEN BOARD OF ALDERS AMENDING THE ESTABLISHED DECLARATION OF TRUST FOR OTHER POST EMPLOYMENT BENEFITS (OPEB) TRUST FUND.
Attachments: 1. signed checklist LM-2023-0648 OPEB Trust amendments, 2. 0 - CHECK LIST - OPEB Trust Proposed Amendments, 3. 1 - OPEB Cover Memorandum, 4. 2 - ORDER - OPEB Trust Prop Amend, 5. 3 - PRIOR NOTIF FORM - OPEB Trust Prop Amend, 6. 4 - FISCAL IMPACT STMT- OPEB Trust Prop Amend, 7. 5 - Draft of Proposed OPEB Trust amendments_City of New Haven_ Mandatory Employee Contributions Trust Agreement (2023), 8. 6 - LM-2010-0128 OPEB Declaration of Trust for the CoNH, 9. Signature Page

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ORDER OF THE NEW HAVEN BOARD OF ALDERS AMENDING THE ESTABLISHED DECLARATION OF TRUST FOR OTHER POST EMPLOYMENT BENEFITS (OPEB) TRUST FUND.

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WHEREAS, The Board of Alders established a declaration of trust for the city to be known as the “City of New Haven trust fund for other post-employment benefits” (OPEB) to hold the assets and income to be used for the exclusive purpose of funding post-retirement benefits in August 2010 (LM-2010-0128); and

 

WHEREAS, Per the original declaration of trust, the Board of Aldermen (Alders) reserved the ability to amend the duties of the Controller or to expand oversight of the trust, including the creation of a board of committee at that time; and

 

WHEREAS, The City of New Haven is amending the original declaration of trust to include but not limited to board creation, expanding the duties of the board, etc. related to managing the trust.

 

NOW, THEREFORE, BE IT ORDERED by the New Haven Board of Alders that:

 

Section 1.                     The Board of Alders is approving the changes to the Declaration of Trust

 

Section 2.                     The OPEB Committee will have the authority as outlined in the Declaration of Trust to make additional amendments from time-to time to the declaration of trust, investment of funds, and any other matters related to the OPEB trust.