HomeMy WebLinkAboutRES 1991-06 - Board RESOLUTION NO. 9106
OF THE
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
APPROVING CHANGE OF ACTUARIAL METHOD
UNDER THE PENSION PLAN
WHEREAS, prior to January 1, 1991, the funding method for the
pension plan was the individual aggregate method; and
WHEREAS, the Board of Directors of the Truckee Donner Public
Utility District has concluded that it is in the best interest of
the District to change the actuarial funding method under the
pension plan to the projected unit credit method; and
WHEREAS, the Board of Directors understands that the projected unit
credit method has been approved by the Internal Revenue Service
pursuant to Revenue Procedure 85-29;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors to change
the pension plan funding method effective January 1, 1991. The
President of the Board is hereby authorized to sign Exhibit "A" , a
.. copy of which is attached, effecting such change.
Passed and adopted by the Board of Directors of the Truckee Donner
Public Utility District at a meeting duly called and held within
the District on the 19th day of February 1991, by the following
roll call vote:
AYES: Corbett, Curran, Sutton and Aguera.
NOES: None.
ABSENT: Maass.
TR= P 1IC UTILITY DISTRICT
BY
seA R. Ague , President
ATTEST
Susan M. Craig, Deputy 21strict Clerk
smc
Truckee-Donner Public Utility District
Change in Actuarial Funding Methods
As of January 1, 1991
PRIOR FUIN'DIN G METHOD
Prior to January 1, 1991 the funding method employed was the Individual
Aggregate Method.
;t"E`V ACTUARIAL FUIN-DINNG METHOD
As of January 1, 1991 the funding method will be the Projected Unit
Credit Method.
PLAN ,AD-MINISTRATOR'S COSSE T
The Plan Sponsor of the Truckee-Donner Public Utility District Defined
Benefit Plan hereby consents to the change in funding method made
effective January, 1, 1991. It is understood that this change is approved by
the Internal Revenue Service persuant to Revenue Procedure 85 2.9.
Dated thisz, day of _ 1991.
Truc Donner Publicyt4,lity District
by: L---