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Retirement Board of Authority

Background:

On July 26, 2006, the Governing Board took action to comply with Governmental Accounting Standards Board (GASB) pronouncements 43 and 45, and the associated implications for the District. The Governing Board approved the establishment of a trust to be used for the purposes of: Investment and Disbursement of Funds Irrevocably Designated by Employer for the Payment of its Obligations to Eligible Employees (and Former Employees) of Employer and Their Eligible Dependents and Beneficiaries for Health Insurance and Other Similar Benefits, by adopting Resolution 5-C on July 30, 2008. The team of experts needed to support the District in this compliance activity consists of: 1) the plan sponsor (broker); 2) the trust company; and 3) the investment manager. With Board approval, the District entered into an agreement with Keenan Financial Services to participate in its GASB 43 and 45 turnkey program named Futuris as the plan sponsor; with Benefit Trust Company acting as the trust company; and with Morgan Stanley as the investment manager.

Members:

  • Eugene Huff, Executive Vice Chancellor, Administrative Services
  • Jonah Nicholas, Associate Vice Chancellor/Chief Financial Officer
  • Robert Kratochvil, College President
  • Mariles Magalong, Director of Business Services
  • Michael Anker, United Faculty Representative
  • Valerie House, Local 1 Representative
  • Nick Dimitri, Management Council Representative