DEPOSITS AND DISBURSEMENTS FROM THE TRUST FUND

SJ-MC tit. 3, div. II, ch. 3.54, pt. 3

in effect

San José Municipal Code § 3.54.200 Trust deposits.

3.54.200 - Trust deposits. A. The trustees hereby delegate to the administrator, the responsibility for accepting contributions to the trust, remitting said contributions to the custodian, and paying benefits as described herein from the trust fund. The administrator is also responsible for crediting the deposits to the appropriate sub-trust, if sub-trusts have been established. In all cases, deposits of contributions shall be treated as actually made only as of the date the funds are accepted as in good order by the administrator. B. The trustees shall hold, invest, and reinvest the trust fund. The administrator shall account for contributions, income, and payments made to or from the trust. The trustees, custodian and administrator shall not be responsible for the adequacy of the trust fund to meet and discharge any liabilities of the city. C. Contributions to fund the benefits funded by the trust shall consist of amounts determined pursuant to this code and any applicable collective bargaining agreements. (Ord. 29065.)

San José Municipal Code § 3.54.210 Sub-trusts and accounts.

3.54.210 - Sub-trusts and accounts. Separate sub-trusts or accounts in the trust fund may be maintained by the trustees for appropriate categories of employees and/or retirees. The trustees shall not be required to maintain separate investments for any sub-trust or account. Earnings may be credited to each sub-trust or account from time to time. (Ord. 29065.)

San José Municipal Code § 3.54.220 Trust payments.

3.54.220 - Trust payments. A. Trust assets may be used to defray the cost of the city's obligations to pay for health and welfare benefits for retirees and their dependents entitled to health care coverage under Sections 3.36.1950 through 3.36.1995, and for reasonable expenses, fees and allocated administrative fees and expenses. The benefits amount shall be determined by Parts 14 and 15 of Chapter 3.36 and any amount necessary to pay health and welfare benefits as approved by the city council. B. Any amounts remaining in the trust fund, after all health and welfare benefits, fees and expenses have been paid, shall be retained for payment of future health and welfare benefits until all city liabilities for such benefits and expenses have been satisfied. (Ord. 29065.)

Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.54PODEHECATRFU_PT3DEDITRFUFetched: 11/1/2026