City of Alexandria, Virginia
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MEMORANDUM
DATE: MAY 6, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR OF FINANCE
DOCKET TITLE:
TITLE
Consideration of the Appointment of a Representative to the Other Post-Employment Benefit Trust Board
BODY
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ISSUE: Appointing a new Representative to the Other Post-Employment Benefit Trust Board (OPEB) Board.
RECOMMENDATION: That City Council appoint Kevin Greenlief to a two-year term to the OPEB Trust Board as the Director of Finance.
BACKGROUND: The purpose of the Other Post-Employment Benefits Trust is to receive City contributions for future retiree health insurance and life insurance premiums. The Code of Virginia requires governing bodies that create such a trust also create a board to serve as trustee to manage and invest the assets of the trust. The Code further says that the Board shall be composed of at least three members to include:
1. The Chief Financial Officer of the locality,
2. The City Finance Director, and
3. At least one other citizen of the Commonwealth with “proven integrity, business ability, and demonstrated experience in cash management and in investments.”
City Council approved the creation of the OPEB Trust Board on June 14, 2008. The City does not currently have a Chief Financial Officer. Section 15.2-1547 of the State Code says that in the event a locality does not have a Chief Financial Officer then the Chief Administrative Officer may serve on the Board. The current Board members are City Manager Jim Parajon and Greg Useem, Director of the Office of Performance Analytics.
DISCUSSION: Kevin Greenlief is nominated to the OPEB Board. Mr. Greenlief is the Director of Finance. Mr. Greenlief will replace former Director of Finance Kendel Taylor.
STAFF:
Kadira Coley, Retirement Administrator