County employees retirement: San Bernardino County health benefits.

The County Employees Retirement Law of 1937 authorizes the board of supervisors of a county to provide for the contributions of funds for, and the retirement system to establish, a Post-Employment Benefits Trust Account as a part of the retirement fund. Existing law vests, except as specified, the management of a county retirement system in a county board of retirement. This bill would authorize the board of retirement of San Bernardino County to establish by resolution a fund for the collective investment of assets held in trust solely for the exclusive benefit of providing health benefits to employees of any local public agency, as specified. The fund would be a legal entity that is separate from the retirement system, and would be governed by a postemployment health benefits fund board that would be composed of the members of the board of retirement. The bill would direct the postemployment health benefits fund board to establish the terms and conditions for a public agency to participate in the fund. The bill would also authorize the board of retirement to terminate the fund in its discretion at any time, in a specified manner.