Specifications include, but are not limited to:The Pension Plan for Employees of the City of Newark, Delaware is a defined benefit pension plan which provides retirement benefits to eligible employees and their beneficiaries. Contributions are made to the plan by the City of Newark, Delaware, the State of Delaware on behalf of Police participants, and by all participating employees. The Retiree Health Insurance Trust for Employees of the City of Newark, Delaware is a post-employment benefits trust (“OPEB”) plan which provides health and life insurance benefits to eligible employees and health insurance to the employees’ spouses. Contributions are made to the plan by the City of Newark, Delaware. The Pension Committee is responsible for the internal administration of the Pension and OPEB Plans and to advise and assist the City Council in meeting its mandate as fiduciaries of the plan to direct and monitor the investment management of the plan assets. The Pension Committee reports to the City Council. C.Scope of Services See Exhibit A - Investment Management Services, Exhibit B - Custody Services, and Exhibit C – Benefit Administration Services. D.Documentation The following enclosed documents provide more information about the City of Newark’s Pension Fund, OPEB Trust, and Cash Reserve account: 1.City of Newark Pension & OPEB Fund Investment Report for Period Ending December 31, 2015
