Town Pension and OPEB Trusts Oversight Committee

TOWN OF LOS GATOS TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE AGENDA AUGUST 04, 2020 110 EAST MAIN STREET LOS GATOS, CA Marcia Jensen, Mayor Barbara Spector, Vice Mayor Rob Rennie, Council Member Marico Sayoc, Council Member PARTICIPATION IN THE PUBLIC PROCESS Vacant, 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 Town Clerk. 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 Pension and OPEB Trusts Oversight Meetings Broadcast Live on KCAT, Channel 15 (on Comcast) quarterly on the 1st or 3rd Tuesday at 6:00 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 of 3  TOWN OF LOS GATOS TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE AGENDA AUGUST 04, 2020 6:00 PM IMPORTANT NOTICE REGARDING THE AUGUST 4, 2020 TOWN PENSION AND OPEB TRUSTS OVERSIGHT COMMITTEE MEETING This meeting is being conducted utilizing teleconferencing and electronic means consistent with State of California Executive Order N-29- 20 dated March 17, 2020, regarding the COVID- 19 pandemic. The live stream of the meeting may be viewed on television and/or online at https://meetings.municode.com/PublishPage/index?cid=LOSGATOS&ppid=4bc370fb-3064- 458e-a11a-78e0c0e5d161&p=0. In accordance with Executive Order N-29- 20, the public may only view the meeting on television and/or online and not in the Council Chamber. PARTICIPATION If you are not interested in providing oral comments real-time during the meeting, you can view the live stream of the meeting on television (Comcast Channel 15) and/or online at https://www.youtube.com/channel/UCFh35XRBWer1DPx-F7vvhcg. If you are interested in providing oral comments real-time during the meeting, you must join the Zoom webinar at https://zoom.us/j/95984921680. Password: 927633. During the meeting:  When the Chair announces the item for which you wish to speak, click the “raise hand” feature in Zoom. If you are participating by phone on the Zoom app, press *9 on your telephone keypad to raise your hand. If you are participating by calling in, press #2 on your telephone keypad to raise your hand.  When called to speak, please limit your comments to three (3) minutes, or such other time as the Chair may decide, consistent with the time limit for speakers at a Council meeting. If you are unable to participate in real-time, you may email to PublicComment@losgatosca.gov with the subject line “Public Comment Item #__ ” (insert the item number relevant to your comment) or “Verbal Communications – Non Agenda Item.” Comments will be reviewed and distributed before the meeting if received by 5:00 p.m. on the day of the meeting. All comments received will become part of the record. The Mayor has the option to modify this action on items based on comments received. REMOTE LOCATION PARTICIPANTS The following Council Members are listed to permit them to appear electronically or telephonically at the Town Council meeting: MAYOR MARCIA JENSEN, VICE MAYOR BARBARA SPECTOR, COUNCIL MEMBER ROB RENNIE, COUNCIL MEMBER MARICO SAYOC. All votes during the teleconferencing session will be conducted by roll call vote. Page 2 of 3  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 Committee or public may request to have an item removed from the Consent Items for comment and action. A member of the public may request to pull an item from Consent by following the Participation instructions contained on page 2 of this agenda. If an item is pulled, the Mayor has the sole discretion to determine when the item will be heard. Unless there are separate discussions and/or actions requested by the Committee, staff, or a member of the public, it is requested that items under the Consent Items be acted on simultaneously.) 1. Approve the Minutes of the April 21, 2020, Town Pension and OPEB Trusts Oversight Committee Meeting. 2. Receive Final Account Summary Reports for the Town of Los Gatos PARS IRS Section 115 Pension Trust for the Periods Ending November 30, 2019 through June 30, 2020. 3. Receive Market Value Summary Quarterly Reports for the Period Ending December 31, 2019, the Period Ending March 31, 2020, and the June 30, 2020, Performance Report for the California Employers’ Retiree Benefit Trust (CERBT). VERBAL COMMUNICATIONS (Members of the public are welcome to address the Town Council on any matter that is not listed on the agenda consistent with the Participation instructions contained on page 2 of this 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 comment. In the event additional comments 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 for each comment on any of the following items consistent with the Participation Instructions contained on page 2 of this agenda.) 4. Review and Approve the Town of Los Gatos Retiree Healthcare Plan June 30, 2019 Actuarial Valuation and its Assumptions as Prepared and Recommended by Bartel Associates, LLC. 5. Consider Finance Committee Recommendation Regarding a Methodology for Additional Discretionary Payments to CalPERS. ADJOURNMENT 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 of 3