City of Del Mar Finance Committee Meeting Agenda Packet May 20 2026
City Utilizes PARS for Section 115 Pension Trust
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Description
The City of Del Mar maintains an irrevocable Section 115 pension trust with Public Agency Retirement Services, approved by Council in March 2024, to invest and administer pension reserve assets. PARS provides ongoing trust administration, investment management options, and monthly reporting to support the City’s long‑term pension funding strategy.
Contract Details
Vendor
PUBLIC AGENCY RETIREMENT SERVICES
Agency
City of Del Mar, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
Trust established March 18, 2024; ongoing administration
Renewal Info
Trust relationship is ongoing with no stated termination or renewal date; City may modify fund management or use trust assets for pension obligations consistent with IRS and trust requirements.
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