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CALIFORNIA EMPLOYER'S RETIREE BENEFIT TRUST PROGRAM ( "CERBT ") <br /> AGREEMENT AND ELECTION <br /> OF <br /> CITY OF PLEASANTON <br /> (NAME OF EMPLOYER) <br /> TO PREFUND OTHER POST EMPLOYMENT <br /> BENEFITS THROUGH Ca1PERS <br /> WHEREAS (1) Government Code Section 22940 establishes in the State Treasury the <br /> Annuitants' Health Care Coverage Fund for the prefunding of health care coverage for <br /> annuitants (Prefunding Plari); and <br /> WHEREAS (2) The California Public Employees' Retirement System (CaIPERS) Board <br /> of Administration (Board) has sole and exclusive control and power over the <br /> administration and investment of the Prefunding Plan (sometimes also referred to as <br /> CERBT), the purposes of which include, but are not limited to (i) receiving contributions <br /> from participating employers and establishing separate Employer Prefunding Accounts <br /> in the Prefunding Plan for the performance of an essential governmental function (ii) <br /> investing contributed amounts and income thereon, if any, in order to receive yield on <br /> the funds and (iii) disbursing contributed amounts and income thereon, if any, to pay for <br /> costs of administration of the Prefunding Plan and to pay for health care costs or other <br /> post employment benefits in accordance with the terms of participating employers' <br /> plans; and <br /> WHEREAS (3) City of Pleasanton <br /> (NAME OF EMPLOYER) <br /> (Employer) desires to participate in the Prefunding Plan upon the terms and conditions <br /> set by the Board and as set forth herein; and <br /> WHEREAS (4) Employer may participate in the Prefunding Plan upon (i) approval by <br /> the Board and (ii) filing a duly adopted and executed Agreement and Election to Prefund <br /> Other Post Employment Benefits (Agreement) as provided in the terms and conditions <br /> of the Agreement; and <br /> WHEREAS (5) The Prefunding Plan is a trust fund that is intended to perform an <br /> essential governmental function within the meaning of Section 115 of the Internal <br /> Revenue Code as an agent multiple - employer plan as defined in Governmental <br /> Accounting Standards Board (GASB) Statement No. 43 consisting of an aggregation of <br /> single - employer plans, with pooled administrative and investment functions; <br /> Rev 6/23/2010 <br />