Town Pension and OPEB Trusts Oversight Committee

TOWN OF LOS GATOS TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE AGENDA DECEMBER 03, 2019 110 EAST MAIN STREET LOS GATOS, CA Marcia Jensen, Mayor Barbara Spector, Vice Mayor Steve Leonardis, Council Member Rob Rennie, Council Member PARTICIPATION IN THE PUBLIC PROCESS Marico Sayoc, Council Member How to participate: The Town of Los Gatos strongly encourages your active participation in the public process, which is the cornerstone of democracy. If you wish to speak to an item on the agenda, please complete a “speaker’s card” located on the back of the chamber benches and return it to the Clerk Administrator. If you wish to speak to an item NOT on the agenda, you may do so during the “Verbal Communications” period. The time allocated to speakers may change to better facilitate the Town Council meeting. Effective Proceedings: The purpose of the Town Council meeting is to conduct the business of the community in an effective and efficient manner. For the benefit of the community, the Town of Los Gatos asks that you follow the Town’s meeting guidelines while attending Town Council meetings and treat everyone with respect and dignity. This is done by following meeting guidelines set forth in State law and in the Town Code. Disruptive conduct is not tolerated, including but not limited to: addressing the Town Council without first being recognized; interrupting speakers, Town Council or Town staff; continuing to speak after the allotted time has expired; failing to relinquish the podium when directed to do so; and repetitiously addressing the same subject. Deadlines for Public Comment and Presentations are as follows:  Persons wishing to make an audio/visual presentation on any agenda item must submit the presentation electronically, either in person or via email, to the Clerk’s Office no later than 3:00 p.m. on the day of the Council meeting.  Persons wishing to submit written comments to be included in the materials provided to Town Council must provide the comments as follows: o For inclusion in the regular packet: by 11:00 a.m. the Thursday before the Council meeting o For inclusion in any Addendum: by 11:00 a.m. the Monday before the Council meeting o For inclusion in any Desk Item: by 11:00 a.m. on the day of the Council Meeting Town Council Meetings Broadcast Live on KCAT, Channel 15 (on Comcast) on the 1st and 3rd Tuesdays at 7:00 p.m. Rebroadcast of Town Council Meetings on the 2nd and 4th Mondays at 7:00 p.m. Live & Archived Council Meetings can be viewed by going to: www.losgatosca.gov/Councilvideos IN COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT, IF YOU NEED SPECIAL ASSISTANCE TO PARTICIPATE IN THIS MEETING, PLEASE CONTACT THE CLERK DEPARTMENT AT (408) 354-6834. NOTIFICATION 48 HOURS BEFORE THE MEETING WILL ENABLE THE TOWN TO MAKE REASONABLE ARRANGEMENTS TO ENSURE ACCESSIBILITY TO THIS MEETING [28 CFR §35.102-35.104] Page 1  TOWN OF LOS GATOS TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE AGENDA DECEMBER 03, 2019 6:00 PM MEETING CALLED TO ORDER ROLL CALL CONSENT ITEMS (Items appearing on the Consent Items are considered routine and may be approved by one motion. Any member of the Council or public may request to have an item removed from the Consent Items for comment and action. If an item is pulled, the Mayor has the sole discretion to determine when the item will be hear. Unless there are separate discussions and/or actions requested by Council, staff, or a member of the public, it is requested that items under the Consent Items be acted on simultaneously.) 1. Approve the Town Pension and OPEB Trusts Oversight Committee Meeting Minutes of September 3, 2019. 2. Receive Performance Report for the Period Ending October 31, 2019 and Fund Balance Report for the Period Ending September 30, 2019 for the California Employers’ Retiree Benefit Trust (CERBT). 3. Receive Monthly Performance and Account Summary Reports for the Town of Los Gatos IRS Section 115 Pension Trust for the Periods Ending September 30, 2019 and October 31, 2019. VERBAL COMMUNICATIONS (Members of the public are welcome to address the Town Council on any matter that is not listed on the agenda. To ensure all agenda items are heard and unless additional time is authorized by the Mayor, this portion of the agenda is limited to 30 minutes and no more than three (3) minutes per speaker. In the event additional speakers were not able to be heard during the initial Verbal Communications portion of the agenda, an additional Verbal Communications will be opened prior to adjournment.) OTHER BUSINESS (Up to three minutes may be allotted to each speaker on any of the following items.) 4. Receive CalPERS Actuarial Valuations Reports as of June 30, 2018. 5. Receive Bartel Associates, LLC OPEB Accounting Information Report as of the June 30, 2018. 6. Adopt Proposed Revisions to the Town of Los Gatos IRS Section 115 Pension Trust and California Employers’ Retiree Benefit Trust (CERBT) Investment Policy. ADJOURNMENT (Council policy is to adjourn no later than midnight unless a majority of Council votes for an extension of time) Page 2 Writings related to an item on the Town Council meeting agenda distributed to members of the Council within 72 hours of the meeting are available for public inspection at the front desk of the Los Gatos Town Library, located at 100 Villa Avenue, and are also available for review on the official Town of Los Gatos website. Copies of desk items distributed to members of the Council at the meeting are available for review in the Town Council Chambers Note: The Town of Los Gatos has adopted the provisions of Code of Civil Procedure §1094.6; litigation challenging a decision of the Town Council must be brought within 90 days after the decision is announced unless a shorter time is required by State or Federal law. Page 3