HomeMy WebLinkAbout2017-10-10 - Resolution No. 17-32 RESOLUTION NO. 17-32
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
ADOPTING THE PUBLIC AGENCIES POST-EMPLOYMENT
BENEFITS TRUST ADMINISTERED BY PUBLIC AGENCY
RETIREMENT SERVICES (PARS)
WHEREAS, PARS has made available the PARS Public Agencies Post-Employment
Benefits Trust (the "Program") for the purpose of pre-funding pension
obligations and OPEB obligations; and
WHEREAS, the Yorba Linda Water District ("District") is eligible to participate in the
Program, a tax-exempt trust performing an essential governmental function
within the meaning of Section 115 of the Internal Revenue Code, as
amended, and the Regulations issued there under, and is a tax-exempt trust
under the relevant statutory provisions of the State of California; and
WHEREAS, the District's adoption and operation of the Program has no effect on any
current or former employee's entitlement to post-employment benefits; and
WHEREAS, the terms and conditions of post-employment benefit entitlement, if any, are
governed by contracts separate from and independent of the Program; and
WHEREAS, the District's funding of the Program does not, and is not intended to, create
any new vested right to any benefit nor strengthen any existing vested right;
and
WHEREAS, the District reserves the right to make contributions, if any, to the Program.
NOW THEREFORE, the Board of Directors of the Yorba Linda Water District does find,
determine and resolve:
Section 1. The Board of Directors hereby adopts the PARS Public Agencies Post-
Employment Benefits Trust, effective October 10, 2017; and
Resolution No. 17-32 Adopting the PARS Public Agencies Post-Employment Benefits Trust 1
Section 2. The Board of Directors hereby appoints the General Manager, or his
successor or designee as the District's Plan Administrator for the Program;
and
Section 3. The District's Plan Administrator is hereby authorized to execute the PARS
legal and administrative documents on behalf of the District and to take
whatever additional actions are necessary to maintain the District's
participation in the Program and to maintain compliance of any relevant
regulation issued or as may be issued; therefore, authorizing him/her to take
whatever additional actions are required to administer the District's
Program.
PASSED AND ADOPTED this 10th day of October 2017 by the following called vote:
AYES: Directors Hall, Jones, Miller and Nederhood
NOES: None
ABSTAIN: None
ABSENT: Director Hawkins
J. Way a Miller, Ph.D., President
Yorba Linda Water District
ATTEST:
I
Annie Alexander, Assistant Board Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel:
Andrew B. Gage , Esq.
Kidman Law LL
Resolution No. 17-32 Adopting the PARS Public Agencies Post-Employment Benefits Trust 2
ADOPTION AGREEMENT
for the
POST-EMPLOYMENT SECTION 115 TRUST
A.L L Trust agreement with U.S. Bank National Association (the"Bank")(the"Trust Aiareement"):
Post-Emolovment Section 115 Trust. Public Agencies Post-Employment Benefits—Trust
Agreement, effective November 5, 2014
A.1.2. OPEB Plan: Public Agencies Post-Employment Health Care Plan
The plan document for the OPEB Plan is the Public Agencies Post-
Employment Health Care Plan—Master Plan Document, effective as of
November 5, 2014(the"Plan Document").
A.1.3. Pension Plan: Cak' LG0t x-Rki,iL F Srme,,f '� Irm
�C,a1PE1�S>
A.1.4. Pension Plan's
effective date: �1 I Iga5
❑ (Check if applicable) Additional Pension Plans (and their respective
effective dates)are listed on an exhibit attached hereto.
A.2.1. Employer:
Name: Yorba Linda Water District
U.S. mail address: 1717 East Miraloma Avenue, Placentia, CA 92870
Phone number: (714) 701-3000
EIN: 95-2078694
Fiscal year end: June 30
A.2.2. Plan Administrator:
Position at Employer: General Manager
Incumbent: Marc Marcantonio
U.S. mail address: 1717 East Miraloma Avenue, Placentia, CA 92870
Phone number: (714) 701-3020
Email address: mmarcantonio(cDvlwd.com
Page 1 of 4
EXHIBIT"A"TO PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS TRUST AGREEMENT
A.3.1 Adoption. The Employer hereby:
A.3.1.].Adopts the Trust Agreement as part of the(Check one or both of the following boxes):
OPEB Plan
Pension Plan
(each such plan separately, the "Plan") and agrees to be bound by the Trust Agreement's terms, effective
as of the Employer's signature date below and subject to the investment approach selected below.
A.3.1.2.The following provisions apply if and only if the OPEB Plan box above is checked: (i)
Adopts the Plan Document and agrees to be bound by the Plan Document's terms, effective as of the
Employer's signature date below and (ii) acknowledges that the determination of Eligible Employees and
Eligible Beneficiaries is finally and conclusively made by the Employer according to the Employer's
applicable policies and collective bargaining agreements and without reference to the Trust Agreement.
A.3.1.3.Ratifies, affirms, and approves Employer's appointment of Phase II Systems as Trust
Administrator and represents and warrants that attached hereto is a fully-executed original of Employer's
Agreement for Administrative Services with Phase II Systems, d/b/a Public Agency Retirement Services
(PARS).
A.3.1.4.Agrees that capitalized terms used herein but not defined herein shall have the same
meaning attributed to them as in the Trust Agreement or Plan Document, as the case may be.
A.4.1. The Employer hereby represents and warrants that:
A.4.1.1. Authorizing Law. Employer has reviewed with its legal counsel and has
determined that Employer is authorized to establish and maintain the Plan and to establish a financial-
institution trust (separate and apart from the state) for the Plan, including the authority to adopt the Trust
Agreement.
A.4.1.2. Authorizing Resolution. Attached hereto is a certified copy of a resolution of
the Employer's governing body authorizing the adoption of the Trust Agreement as part of the Plan and
authorizing the appointment of the Plan Administrator designated by position of employment at the
Employer to act on the Employer's behalf in all matters relating to the trust.
A.4.1.3. Tax Status. The Plan is a "governmental plan" as defined in Section 414(d) of
the Internal Revenue Code of 1986, as amended; is a "Section 401(a)(24) governmental plan" as defined
in Revenue Ruling 2011-1; and is not subject to Federal income taxation. The Plan's governing
document expressly provides that it is irrevocably impossible for any part of the corpus or income of the
Plan to be used for, or diverted to, purposes other than for the exclusive benefit of the Plan participants
and their beneficiaries. The Pension Plan is a qualified plan under Code Section 401(a). (In addition, the
Employer hereby acknowledges that the Plan is prohibited from assigning any part of its equity or interest
in the trust.)
Page 2 of 4
EXHIBIT"A"TO PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS TRUST AGREEMENT
A.4.2. Investment Approach.
4.2.1. The following provisions apply if and only if the OPEB Plan box above is checked.-
OPEB Account. OPEB Account assets are invested in the discretion of(check one and only one of the
following boxes):
Discretionary investment approach:
The Bank, subject to Exhibit A (Investment Strategy Selection and Disclosure Form)
hereto.
Directed investment approach:
❑ The Plan Administrator.
❑ The following registered investment adviser, bank (other than the Bank), or insurance
company(a"Third-Part_v Manager"):
. The Employer
hereby represents and warrants that attached hereto is an executed copy of the agreement
with the above appointed Third Party Manager.
4.2.2. The following provisions apply if and only if the Pension Plan box above is checked.-
Pension Account. Pension Account assets are invested in the discretion of(check one and only one of
the following boxes):
Discretionary investment approach:
�he Bank, subject to Exhibit A (Investment Strategy Selection and Disclosure Form)
hereto.
Directed investment approach:
❑ The Plan Administrator.
❑ The following registered investment adviser, bank (other than the Bank), or insurance
company(a"Third-Party Manner"):
. The Employer
hereby represents and warrants that attached hereto is an executed copy of the agreement
with the above appointed Third Party Manager.
[signature page follows]
Page 3 of 4
EXHIBIT"A"TO PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS TRUST AGREEMENT
YORBA LINDA WATER DISTRICT
By:
Marc Marcantonio
Its: General Manager
Date:
Accepted by: PHASE II SYSTEMS, DBA PUBLIC AGENCY
RETIREMENT SERVICES(PARS)
By: _
Daniel Johnso `
Its: President /
Date: ),;/z ,
U.S.BANK NATIONAL ASSOCIATION
By:
,
Y
Susan M. Hughes
Its: Vice President and Relationship Manaaer
Date:
Page 4 of 4
EXHIBIT"A"TO PUBLIC AGENCIES POST-EMPLOYMENT BENEFITS TRUST AGREEMENT
PROFESSIONAL SERVICES AGREEMENT
BETWEEN THE YORBA LINDA WATER DISTRICT
AND
PHASE II SYSTEMS
SERVICES: Pre-Funding Pension Obligations and/or OPEB Obligations
This Professional Services Agreement ("Agreement") is made this 2nd day of November, 2017,
between Phase II Systems, a corporation organized and existing under the laws of the State of
California, doing business as Public Agency Retirement Services and PARS (hereinafter "PARS")
and the Yorba Linda Water District, a local public agency, created and operating under authority of
Division 12 of the California Water Code ("District") (collectively referred to herein as the
"Parties").
RECITALS
WHEREAS, District is engaging in the services described in the Scope of Services attached as
Exhibit "1A";
WHEREAS, District requires a professional Trust Administrator with the requisite knowledge, skill,
ability and expertise to provide the necessary Services for District;
WHEREAS, PARS represents to District that it is fully qualified and available to perform the
Services for and as requested by District; and
WHEREAS, the District has adopted the PARS Public Agencies Post-Employment Benefits Trust
for the purpose of pre-funding pension obligations and/or OPEB obligations ("Plan"), and is desirous
of retaining PARS as Trust Administrator to the Trust,to provide administrative services.
NOW, THEREFORE, in consideration of the mutual promises, covenants, and terms and conditions
herein, the Parties agree as follows:
AGREEMENT
1. Services. PARS will provide the services pertaining to the Plan as described in the exhibit
attached hereto as "Exhibit 1A" ("Services") in a timely manner, subject to the further provisions
of this Agreement.
2. Fees for Services. PARS will be compensated for performance of the Services as described in
the exhibit attached hereto as "Exhibit 113". Costs or expenses not designated or identified in
Exhibit 113 shall not be reimbursable unless otherwise provided in this Agreement.
3. Payment Terms. Payment for the Services will be remitted directly from Plan assets unless the
District chooses to make payment directly to PARS. In the event that the District chooses to
make payment directly to PARS, it shall be the responsibility of the District to remit payment
directly to PARS based upon an invoice prepared by PARS and delivered to the District. If
payment is not received by PARS within sixty (60) days of the invoice delivery date, the balance
Page 1
due shall bear interest at the rate of 1.5%per month. If payment is not received from the District
within ninety (90) days of the invoice delivery date, payment plus accrued interest will be
remitted directly from Plan assets, unless PARS has previously received written communication
disputing the subject invoice that is signed by a duly authorized representative of the District.
4. Fees for Services Beyond Scope. Fees for services beyond those specified in this Agreement
will be billed to the District at the rates indicated in the PARS' standard fee schedule in effect at
the time the services are provided and shall be payable as described in Section 3 of this
Agreement. Before any such services are performed, PARS will provide the District with a
detailed description of the services, terms, and applicable rates for such services. Such services,
terms, and applicable rates shall be agreed upon in writing and executed by both parties.
5. Information Furnished to PARS. PARS will provide the Services contingent upon the
District's providing PARS the information specified in the exhibit attached hereto as "Exhibit
IC" ("Data"). It shall be the responsibility of the District to certify the accuracy, content and
completeness of the Data so that PARS may rely on such information without further audit. It
shall further be the responsibility of the District to deliver the Data to PARS in such a manner
that allows for a reasonable amount of time for the Services to be performed. Unless specified in
Exhibit 1 A, PARS shall be under no duty to question Data received from the District, to compute
contributions made to the Plan, to determine or inquire whether contributions are adequate to
meet and discharge liabilities under the Plan, or to determine or inquire whether contributions
made to the Plan are in compliance with the Plan or applicable law. In addition, PARS shall not
be liable for non performance of Services to the extent such non performance is caused by or
results from erroneous and/or late delivery of Data from the District. In the event that the
District fails to provide Data in a complete, accurate and timely manner and pursuant to the
specifications in Exhibit IC, PARS reserves the right, notwithstanding the further provisions of
this Agreement, to terminate this Agreement upon no less than ninety (90) days written notice to
the District.
6. Records. Throughout the duration of this Agreement, and for a period of five (5) years after
termination of this Agreement, PARS shall provide duly authorized representatives of District
access to all records and material relating to calculation of PARS' fees under this Agreement.
Such access shall include the right to inspect, audit and reproduce such records and material and
to verify reports furnished in compliance with the provisions of this Agreement. All information
so obtained shall be accorded confidential treatment as provided under applicable law.
7. Confidentiality. Without the District's consent, PARS shall not disclose any information
relating to the Plan except to duly authorized officials of the District, subject to applicable law,
and to parties retained by PARS to perform specific services within this Agreement. The District
shall not disclose any information relating to the Plan to individuals not employed by the District
without the prior written consent of PARS, except as such disclosures may be required by
applicable law.
8. Independent Contractor. PARS is and at all times hereunder shall be an independent
contractor. As such, neither the District nor any of its officers, employees or agents shall have
the power to control the conduct of PARS, its officers, employees or agents, except as
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specifically set forth and provided for herein. PARS shall pay all wages, salaries and other
amounts due its employees in connection with this Agreement and shall be responsible for all
reports and obligations respecting them, such as social security, income tax withholding,
unemployment compensation, workers' compensation and similar matters.
9. Safety. PARS shall conduct and maintain the Services so as to avoid injury or damage to any
person or property. PARS shall at all times exercise all necessary safety precautions
appropriate to the nature of the Services and the conditions under which the Services is to be
performed, and be in compliance with all applicable federal, state and local statutory and
regulatory requirements including State of California, Department of Industrial Relations
(Cal/OSHA) regulations. PARS is responsible for the safety of all PARS personnel at all
times during performance of its Services, including while on District property.
10. Indemnification. PARS and Agency hereby indemnify each other and hold the other
harmless, including their respective officers, directors, employees, agents and attorneys, from
any claim, loss, demand, liability, or expense, including reasonable attorneys' fees and costs,
incurred by the other as a consequence of, to the extent, PARS' or Agency's, as the case may
be, negligent acts, errors or omissions with respect to the performance (or actual or alleged
non-performance) of the Services under this Agreement. (Please see Exhibit "IA".)
11. 11.0 Insurance Requirements. Prior to execution of this Agreement, and at any
time thereafter on request, PARS shall provide certificates of insurance evidencing the
required coverage and limits for each insurance policy. In addition, PARS shall provide a
new certificate of insurance whenever an insurance policy required herein, expires, is
renewed or is replaced. District may also, at any time, request submittal of policies and
policy endorsements acceptable to District evidencing the required coverage and limits. Each
insurance policy, except Worker's Compensation and Errors & Omissions, shall be primary
insurance as respects to District, its affiliated organizations and its and their respective
officers, directors, trustees, employees, agents, consultants, attorneys, successors and assigns
(collectively, the "Covered Parties") for all liability arising out of the activities performed by
or on behalf of PARS. Any insurance, pool coverage, or self-insurance maintained by
Covered Parties shall be excess of PARS' insurance and shall not contribute to it. Except for
the Errors and Omissions policy (Section 11.4), all insurance coverage maintained or
procured pursuant to this Agreement shall be endorsed to waive subrogation against the
Covered Parties or shall specifically allow PARS or others providing insurance evidence in
compliance with these requirements to waive their right of recovery prior to loss. PARS
waives its right of recovery against the Covered Parties for damages covered by insurance
required by this Agreement. PARS shall require similar written express waivers and
insurance clauses from each of its subcontractors. The insurer issuing the Workers'
Compensation insurance shall amend its policy to waive all rights of subrogation against the
Covered Parties.
Each insurance policy shall provide, or be endorsed to provide, that coverage shall not be
cancelled except after thirty (30) days prior written notice by U.S. Mail (ten (10) days for
non-payment of premium) has been given to District. Unless otherwise approved by District,
each insurance provider shall be authorized to do business in California and have an A.M.
Page 3
Best rating (or equivalent) of not less than "A-:VII." PARS shall provide and maintain at all
times during the performance of this Agreement the following insurance: (1) Commercial
General Liability ("CGL") insurance; (2) Automobile Liability insurance; (3) Workers'
Compensation and Employer's Liability insurance; and (4) Errors and Omissions ("E&O")
liability insurance.
11.1. Commercial General Liability. Each CGL policy shall identify Covered Parties
as additional insured, or be endorsed to identify Covered Parties as additional insured using a
form acceptable to the District. Coverage for additional insured shall not be limited to
vicarious liability. Defense costs must be paid in addition to limits. Each CGL policy shall
have liability coverage limits of at least $1,000,000 per occurrence for bodily injury, personal
injury and property damage, and $2,000,000 aggregate total bodily injury, personal injury
and property damage. CGL insurance and endorsements shall be kept in force at all times
during the performance of this Agreement and all coverage required herein shall be
maintained after the term of this Agreement so long as such coverage is reasonably available.
11.2. Automobile Liability. Each Automobile Liability policy shall require coverage
for "any auto" and shall have limits of at least $1,000,000 for bodily injury and property
damage, each accident, and shall use ISO policy form "CA 00 O1," including owned, non-
owned and hired autos, or equivalent. If PARS owns no vehicles, this requirement may be
satisfied by a non-owned auto endorsement to the CGL policy described above. Automobile
Liability insurance and endorsements shall be kept in force at all times during the
performance of this Agreement and all coverage required herein shall be maintained after the
term of this Agreement so long as such coverage is reasonably available.
11.3. Workers' Compensation/Employer's Liability. PARS shall cover or insure the
existence of coverage under the applicable laws relating to Workers' Compensation
insurance, all of their employees employed directly by them or through subconsultants at all
times in carrying out the Services contemplated under this Agreement, in accordance with the
"Workers' Compensation and Insurance Act" of the California Labor Code and any
amendatory Acts. PARS shall provide Employer's Liability insurance with limits of at least
$1,000,000 each accident, $1,000,000 disease policy limit, and $1,000,000 disease each
employee.
By PARS' signature hereunder, PARS certifies that it is aware of the provisions of Section
3700 of the California Labor Code, which requires every employer to be insured against
liability for Workers' Compensation or to undertake self-insurance in accordance with the
provisions of that code, and that PARS will comply with such provisions before commencing
Services under this Agreement. Upon the request of District, subconsultants must provide
certificates of insurance evidencing such coverage.
11.4. Errors and Omissions. Each E&O policy shall have limits of at least $1,000,000
per claim and $1,000,000 aggregate. E&O insurance and endorsements shall be kept in force
at all times during the performance of this Agreement and all coverage required herein shall
be maintained after the term of this Agreement so long as such coverage is reasonably
available.
Page 4
12. Compliance with Applicable Law. The District shall observe and comply with federal, state
and local laws in effect when this Agreement is executed, or which may come into effect during
the term of this Agreement, regarding the administration of the Plan. PARS shall observe and
comply with federal, state and local laws in effect when this Agreement is executed, or which
may come into effect during the term of this Agreement, regarding Plan administrative services
provided under this Agreement.
13. Applicable Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of California. In the event any party institutes legal proceedings to enforce or
interpret this Agreement, venue and jurisdiction shall be in any state court of competent
jurisdiction.
14. Force Majeure. When a party's nonperformance hereunder was beyond the control and not due
to the fault of the party not performing, a party shall be excused from performing its obligations
under this Agreement during the time and to the extent that it is prevented from performing by
such cause, including but not limited to: any incidence of fire, flood, acts of God, acts of
terrorism or war, commandeering of material, products, plants or facilities by the federal, state or
local government, or a material act or omission by the other party.
15. Ownership of Reports and Documents. The originals of all letters, documents, reports, and
data produced for the purposes of this Agreement shall be delivered to, and become the property
of the District. Copies may be made for PARS but shall not be furnished to others without
written authorization from District.
16. Designees. The Plan Administrator of the District, or their designee, shall have the authority to
act for and exercise any of the rights of the District as set forth in this Agreement, subsequent to
and in accordance with the written authority granted by the Governing Body of the District, a
copy of which writing shall be delivered to PARS. Any officer of PARS, or his or her designees,
shall have the authority to act for and exercise any of the rights of PARS as set forth in this
Agreement.
17. Notices. All notices hereunder and communications regarding the interpretation of the terms of
this Agreement, or changes thereto, shall be effected by delivery of the notices in person or by
depositing the notices in the U.S. mail, registered or certified mail, return receipt requested,
postage prepaid and addressed as follows:
(A) To PARS: PARS; 4350 Von Karman Avenue, Suite 100, Newport Beach, CA 92660;
Attention: President
(B) To District: Yorba Linda Water District; 1717 East Miraloma Avenue, Placentia, CA
92870; Attention: General Manager
Notices shall be deemed given on the date received by the addressee.
18. Term of Agreement. This Agreement shall remain in effect for the period beginning October
10, 2017 and ending October 9, 2020 ("Term"). Except as provided for in Section No. 5 above,
this Agreement may be terminated at any time by giving thirty (30) days written notice to the
other party of the intent to terminate. Absent a thirty (30) day written notice to the other party of
Page 5
the intent to terminate, this Agreement will continue unchanged for successive twelve month
periods following the Term.
19. Withholding Payment. In the event District has reasonable grounds to believe PARS will be
materially unable to perform the Services under this Agreement, or if District becomes aware of
a potential claim against PARS or District arising out of PARS' negligence, intentional act or
breach of any provision of this Agreement, including a potential claim against PARS by District,
then District may, to the fullest extent allowed by law, withhold payment of any amount payable
to PARS that District determines is related to such inability to complete the Services, negligence,
intentional act, or breach. Any outstanding or open invoices for Services unrelated to such
inability to complete the Services, negligence, intentional act, or breach will be paid by the
District.
20. Amendment. This Agreement may not be amended orally, but only by a written instrument
executed by the parties hereto.
21. Entire Agreement. This Agreement, including exhibits, contains the entire understanding of the
parties with respect to the subject matter set forth in this Agreement. In the event a conflict
arises between the parties with respect to any term, condition or provision of this Agreement, the
remaining terms, conditions and provisions shall remain in full force and legal effect.
22. Attorneys Fees. In the event any action is taken by a party hereto to enforce the terms of this
Agreement, the prevailing party herein shall be entitled to receive its reasonable attorney's fees.
23. Binding Arbitration. In the event of any dispute, controversy or claim under or relating to the
terms of this Agreement, or the subject matter hereof, or breach or alleged breach thereof, which
dispute remains unresolved after a period of thirty(30)days following written notice by one Party to
the other, any such dispute (including the determination of the scope or applicability of this
agreement to arbitrate) shall be resolved by arbitration to be administered and heard by the Judicial
Arbitration and Mediation Service ("JAMS") in Orange County, California pursuant to its
Comprehensive Arbitration Rules and Procedures. The arbitration shall be heard by a single
arbitrator mutually agreed upon by the Parties to the arbitration. Should the Parties be unable to
agree upon an arbitrator,the arbitrator shall be selected pursuant to the applicable JAMS rule for the
selection of a single arbitrator. Any such dispute submitted to arbitration shall be brought
exclusively in the Parry's individual capacity, and not as a plaintiff or class member in any
purported class or representative proceeding. Any judgment upon the award rendered by the
arbitrator may be entered in any court, state or federal, having jurisdiction thereof. Any Parry may
apply to the arbitrator seeking injunctive relief until the arbitration award is rendered or the
controversy is otherwise resolved. Any Party also may, without waiving any remedy under this
Agreement, seek from any court located in Orange County, California having jurisdiction any
interim or provisional relief that is necessary to protect the rights or property of that Party, pending
the establishment of the arbitral tribunal (or pending the arbitral tribunal's determination of the
merits of the controversy). All costs of JAMS or of the arbitrator shall be divided equally among
the Parties, unless otherwise ordered by the arbitrator. In any arbitration,the arbitrator's award shall
be supported by law and substantial evidence.
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24. Counterparts. This Agreement may be executed in any number of counterparts, and in that
event, each counterpart shall be deemed a complete original and be enforceable without
reference to any other counterpart.
25. Headings. Headings in this Agreement are for convenience only and shall not be used to
interpret or construe its provisions.
26. Effective Date. This Agreement shall be effective on the date first above written, and also shall
be the date the Agreement is executed.
DISTRICT:
BY:
Marc% Marcantorno
TITLE: General Manager
DATE:
PARS:
B1':
TodAs
TITLE: Chief Financial O icer
DATE:
Page 7
EXHIBIT IA
SERVICES
PARS will provide the following services for the Yorba Linda Water District Public Agencies Post-
Employment Benefits Trust:
1. Plan Installation Services:
(A) Meeting with appropriate District personnel to discuss plan provisions, implementation
timelines, actuarial valuation process, funding strategies, benefit communication strategies,
data reporting, and submission requirements for contributions/reimbursements/distributions;
(B) Providing the necessary analysis and advisory services to finalize these elements of the Plan;
(C)Providing the documentation needed to establish the Plan to be reviewed and approved by
District legal counsel. Resulting final Plan documentation must be approved by the District
prior to the commencement of PARS Plan Administration Services outlined in Exhibit IA,
paragraph 2 below.
2. Plan Administration Services:
(A)Monitoring the receipt of Plan contributions made by the District to the trustee of the PARS
Public Agencies Post-Employment Benefits Trust ("Trustee"), based upon information
received from the District and the Trustee;
(B)Performing periodic accounting of Plan assets, reimbursements/distributions, and investment
activity, based upon information received from the District and/or Trustee;
(C) Coordinating the processing of distribution payments pursuant to authorized direction by the
District, and the provisions of the Plan, and, to the extent possible, based upon District-
provided Data;
(D)Coordinating actions with the Trustee as directed by the Plan Administrator within the scope
this Agreement;
(E) Preparing and submitting a monthly report of Plan activity to the District, unless directed by
the District otherwise;
(F) Preparing and submitting an annual report of Plan activity to the District;
(G)Facilitating actuarial valuation updates and funding modifications for compliance with
GASB 45/75, if prefunding OPEB obligations;
(H) Coordinating periodic audits of the Trust;
(I) Monitoring Plan and Trust compliance with federal and state laws.
3. PARS is not licensed to provide and does not offer tax, accounting, legal, investment or actuarial
advice.
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EXHIBIT 1 B
FEES FOR SERVICES
PARS will be compensated for performance of Services, as described in Exhibit IA based upon the
following schedule:
An annual asset fee shall be paid from Plan Assets based on the following schedule:
For Plan Assets from: Annual Rate:
$0 to $10,000,000 0.25%
$10,000,001 to $15,000,000 0.20%
$15,000,001 to $50,000,000 0.15%
$50,000,001 and above 0.10%
Annual rates are prorated and paid monthly. The annual asset fee shall be calculated by the
following formula [Annual Rate divided by 12 (months of the year) multiplied by the Plan asset
balance at the end of the month]. Trustee and Investment Management Fees are not included.
Page 9
EXHIBIT 1 C
DATA REQUIREMENTS
PARS will provide the Services under this Agreement contingent upon receiving the following
information:
1. Executed Legal Documents:
(A) Certified Resolution
(B) Adoption Agreement to the Public Agencies Post-Employment Benefits Trust
(C) Trustee Investment Forms
2. Contribution — completed Contribution Transmittal Form signed by the Plan Administrator
(or authorized Designee) which contains the following information:
(A) District name
(B) Contribution amount
(C) Contribution date
(D) Contribution method (Check, ACH, Wire)
3. Distribution — completed Payment Reimbursement/Distribution Form signed by the Plan
Administrator(or authorized Designee) which contains the following information:
(A) District name
(B) Payment reimbursement/distribution amount
(C) Applicable statement date
(D) Copy of applicable premium, claim, statement, warrant, and/or administrative expense
evidencing payment
(E) Signed certification of reimbursement/distribution from the Plan Administrator (or
authorized Designee)
4. Other information pertinent to the Services as reasonably requested by PARS and Actuarial
Provider.
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