Retirement Board of Authority
Retirement Board of Authority
Charge
The Board of Trustees (Board) of Chabot Las Positas Community College District (District) has established a trust for the purposes of: investment and disbursement of funds irrevocably designated by the District for the payment of its obligations to eligible employees (and former employees) of the District and their eligible dependents and beneficiaries for health insurance and other similar benefits (sometimes referred to as “other post-employment benefits,” or “OPEB”), in compliance with Governmental Accounting Standards Board Statement Nos. 74 and 75.
The Board has established a seven-member Retirement Board of Authority for the Trust
to have the authority to engage other necessary providers of services in connection
with the Program, including the adoption of the Trust, the appointment of a fiduciary
trustee and custodian, as well as to make any and all other decisions in the name
of and on behalf of the District with regard to the Trust and other applicable agreements.
The Board desires and has the authority to appoint, terminate or replace the members
of the Retirement Board of Authority at any time.