City of Paramount Council Agenda April 2026
Alta Trust Named Successor Trustee for City 115 Trust
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Description
Through Resolution 26:011, Paramount will appoint Alta Trust Company as successor trustee for its Section 115 OPEB/Pension Trust assets once funds are transferred from CalPERS. Alta will oversee trust assets dedicated to prefunding retiree benefit obligations under the new Shuster-administered program.
Contract Details
Vendor
ALTA TRUST COMPANY
Agency
City of Paramount, CA
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
Effective upon transfer of assets following April 28, 2026; ongoing until changed by City
Renewal Info
Trustee appointment continues unless changed by City Council action or terminated under trust and service agreement terms.
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