FINANCIAL_SERVICESAPPROVED

City of Auburn Staff Report Establish PARS Public Agencies Post-Employment Benefits Trust 2026-04-13

Auburn Approves PARS Section 115 Trust Administration

Approximately $6,000 per year (asset-based fee 0.25%–0.10% on $1 million initial investment)City of AuburnPUBLIC AGENCY RETIREMENT SERVICES PARSApril 13, 2026

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Description

The City of Auburn approved participation in the PARS Public Agencies Post-Employment Benefits Trust and authorized a professional services agreement with Public Agency Retirement Services (PARS) to administer a Section 115 trust for pension and OPEB prefunding. The agreement, initially supporting a $1 million investment, carries an estimated $6,000 per year asset-based fee over an initial three-year term starting April 13, 2026.

Contract Details

Contract Amount

Approximately $6,000 per year (asset-based fee 0.25%–0.10% on $1 million initial investment)

Vendor

PUBLIC AGENCY RETIREMENT SERVICES PARS

Agency

City of Auburn, CA

Contract Type

FINANCIAL_SERVICES

Document Date

April 13, 2026

Contract Term

April 13, 2026 – April 13, 2029, with automatic continuation while City assets remain in the PARS Trust

Renewal Date

2029-04-13

Renewal Info

Base term runs from April 13, 2026 through April 13, 2029, with extensions allowed by written amendment. If City assets remain in the PARS Public Agencies Post‑Employment Benefits Trust as of the termination date, the agreement automatically continues on the same terms as long as necessary to administer, transfer, or reimburse trust assets.

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