07-0420R


RESOLUTION AUTHORIZING AGREEMENT WITH PUBLIC EMPLOYEE RETIREMENT ASSOCIATION FOR TRUST FUND INVESTMENT.

BY COUNCILOR STEWART:

     RESOLVED, that the proper city officials are authorized to execute and implement an agreement in substantially the form of that on file with the city clerk as Public Document No. ______________, between city of Duluth and Public Employee Retirement Association regarding standards and procedures for investment of post-employment retirement benefit funds in a trust through the state board of investment and payment of an administrative fee.


STATEMENT OF PURPOSE:  This resolution authorizes the contract by which the city will invest its retiree health care fund money through the state board of investment. It is part of the plan to manage the health care cost.