Post-Retirement Medical Trust Committee

Mga tuntunin

Article VII, Section 1, of the North Los Angeles County Regional Center Inc. bylaws provides that new committees may be designated by resolution adopted by a majority vote of the Board of Trustees of North Los Angeles County Regional Center, Inc.

Purpose

The Post-Retirement Medical Trust Committee has been established by Board Resolution adopted on August 11, 2004. The duties of the Post-Retirement Trust Committee shall be to oversee the center’s Post-Retirement Medical Trust and the CalPERS Unfunded Accrued Liability Trust. The committee will meet quarterly and as necessary.

Composition

The Committee shall consist of the board president, board first vice president, board treasurer, the executive director, and the chief financial officer. The president serves as the chairperson of the committee.

Duties

The Post-Retirement Medical Trust Committee will perform the functions required in the Post-Retirement Medical Trust and the CalPERS Unfunded Accrued Liability Trust and may address issues assigned to it by the Board of Trustees or brought to the attention of the committee by the executive director.

The Post-Retirement Medical Trust Committee is responsible for exercising all rights and responsibilities granted it under the terms of the trust, including but not limited to:

• Direct the trustee regarding trust distributions to pay post-retirement medical benefits and/or CalPERS unfunded accrued liability retirement benefits.
• Establish a funding policy and investment guidelines for the trustee.
• Review periodic and annual reports of the trustee including trust transactions, gains or losses, and the investments and assets of the trust at cost and at fair market value.
• Determine the number of committee members who are required to sign directions to the trustee to act on behalf of the committee.
• May be required to value certain assets for the Trustee.
• Make a report of its meeting to the full Board including the Annual Report and any other periodic reports from the trustee.
• Review the performance of the Trustee annually and make a recommendation to the Board to continue or replace trustee.
• Review periodic annual retirement valuation reports.