Photo by Aisling Bludworth
Public Agencies Retirement Service representative Matt Spooner repeated a comment he made to county supervisors a month ago, that a Section 115 Trust with his firm was a “savings account on steroids.”
But contrary to a statement one supervisor made at the Jan. 14 meeting, Spooner, County Administrative Officer Neal Lopez and District 5 representative Dean Wilson said Tuesday that Del Norte couldn’t use dollars it places in that trust for anything other than meeting its pension and other post-employment benefit obligations.
Yet, supervisors Valery Starkey and Darrin Short still sought guidance on how the trust funds could be used. Starkey said that any proposal to access money in the Section 115 Trust should come before the Board of Supervisors and be approved with a 4/5ths vote. That way the public could weigh in, she said.
Continue reading Del Norte Supes OK Retirement Benefit Asset Transfer to PARS Trust, Call For Guidelines Governing Proposed Withdrawals