City of Alexandria, Virginia
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MEMORANDUM
DATE: FEBRUARY 7, 2023
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER /s/
FROM: KENDEL TAYLOR, INTERIM DEPUTY CITY MANAGER
DOCKET TITLE:
TITLE
Consideration of the Appointment of Representatives to the Other Post-Employment Benefit Trust Board.
BODY
ISSUE: Appointing new Representatives to the Other Post-Employment Benefit Trust Board ("OPEB") Board.
RECOMMENDATION: That City Council appoint Kevin Stokes, Assistant City Manager, as the City Manager designee to the OPEB Trust Board and Laura Triggs, to a two-year term to the OPEB Trust Board as a citizen of the Commonwealth.
BACKGROUND: The purpose of the Other Post-Employment Benefits Trust Board is to receive City contributions for future retiree health 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 City Attorney has indicated that this role can be filled by either the City Manager or his designee. The current Board members are Kendel Taylor, who serves as the Finance Director and Debra Collins, who serves as a citizen of the Commonwealth.
DISCUSSION: Kevin Stokes is nominated to the OPEB Board. Mr. Stokes is currently ser...
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