HomeMy WebLinkAboutReso 133-2011 RESOLUTION NO. 133 -2011
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
RESOLUTION AUTHORIZING THE FINANCE AND HUMAN
RESOURCES DIRECTORS TO UTILIZE THE COUNTY OF SAN
MATEO REQUEST FOR PROPOSAL PROCESS TO SELECT AN
OTHER POST EMPLOYMENT BENEFITS (OPEB) TRUST
PROVIDER
WHEREAS, the City of South San Francisco ( "City ") has, like many other municipalities in
California, a liability for retiree health costs, also known as Other Post Employee Benefits, or OPEB,
and for which the City has only been contributing pay as you go retiree health premium costs; and
WHEREAS, prudent budgeting and financial planning allocates costs to the current taxpayers
for the services they are currently receiving; and
WHEREAS, it would be in the City's, the taxpayers', and the employees' and retirees'
interest to have OPEB costs set aside in a qualified Trust vehicle, which would allow the fund to
grow more quickly with a broader range of investment alternatives than would otherwise be available
to the City; and
WHEREAS, the County of San Mateo ( "County ") has recently put together a structured and
comprehensive Request for Proposals ( "RFP ") process to obtain quotations for services from
qualified OPEB Trust providers; and
WHEREAS, the County utilized the services of an independent benefits consulting firm to
assist in their RFP design, identification and communication of qualified providers, review of
proposals, and interviewing finalists; and
WHEREAS, that process resulted in eleven RFP's being sent out to qualified
vendors /providers; and
WHEREAS, that process resulted in four RFP submittals and eventually, two finalists; and
WHEREAS, it is expected that one of the two finalists will be brought to the County Board
of Supervisors for approval in November or December 2011; and
WHEREAS, it would be cost effective for the City to utilize this same RFP process to
evaluate the two finalists for consideration as the City's Trust provider; and
WHEREAS, the Finance Director has already served on the RFP review process for the
County; and
WHEREAS, the Human Resources Director would also provide important professional
advice and consultation in selecting a qualified finalist.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that the City Council hereby authorizes the Finance Director and the Human Resources
Director to evaluate the two finalists of the County RFP process for an OPEB Trust and bring back a
recommendation with the City Manager's and City Attorney's concurrence to the City Council for
consideration.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a special meeting held on the 15 day of
November, 2011 by the following vote:
AYES: Councilmembers Mark Addiego, Pedro Gonzalez, and Karyl Matsumoto,
Vice Mayor Richard A. Garbarino and Mayor Kevin Mullin
NOES: None
ABSTAIN: None
ABSENT: None
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