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Title:
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Charter Amendment (Second Draft) to amend Charter, Sections 12.204 and A8.432, to limit Retiree Health Care Trust Fund disbursements to defray participating employer retiree health care costs until employer sub-trusts are fully funded; allow for disbursements from the City’s sub-trust if the City’s retiree health care costs are greater than ten percent (10%) of its total payroll costs even if the City’s sub-trust is not fully funded; permit modifications to these disbursement guidelines if recommended by the Controller after consultation with the City’s Governmental Accounting Standards Board actuary, and approved by the Mayor, two-thirds of the Board of Supervisors, and the Retiree Health Care Trust Fund Board; permit a participating employer to adopt disbursement guidelines if approved by a two-thirds vote of that participating employer’s governing board; and make the Controller, the City Treasurer, and the Executive Director of the San Francisco Employees’ Retirement System, or their designees, members of the Retiree Health Care Trust Fund Board.
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