HomeMy WebLinkAboutReso 1994-17714 RESOLUTION NO. 17714
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING RENEWAL OF DEFERRED COMPENSATION
PLAN AGREEMENT WITH GREAT WESTERN SAVINGS
WHEREAS, on July 23, 1974, the City Council approved a Deferred Compensation Plan
for the City of Chula Vista, appointing Great Western Savings as the sole plan administrator;
and,
WHEREAS, the contract with Great Western Savings is a five year agreement expiring
October 31, 1994 and for administrative reasons, Great Western Savings extended the
existing contract until December 1, 1994, at which time they are proposing a new contract
with relatively minor changes in terms; and,
WHEREAS, prior to recommending review of the contract with Great Western Savings,
it was felt that a proposal process including other potential providers would be beneficial in
facilitating the decision process; and,
WHEREAS, proposals were requested and received from eight firms in addition to Great
Western and ICMA Retirement Corporation; and,
WHEREAS, the ten proposals were reviewed by a committee who recommended that
Great Western Savings be appointed to continue to provide administration services for the
City's deferred compensation plan.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby approve the renewal of the Deferred Compensation Plan Agreement with Great
Western Savings, known as document number CO94-243, a copy of which is on file in the
office of the City Clerk.
BE IT FURTHER RESOLVED that the Mayor and Director of Finance is hereby authorized
and directed to execute said Agreement for and on behalf of the City of Chula Vista.
Presented by App, d as/~//tfo~ ~
Robert W. Powell oogaard
Director of Finance City Attorney
Resolution No. 17714
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula Vista,
California, this 15th day of November, 1994, by the following vote:
YES: Councilmembers: Fox, Horton, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
Vicki C. Soderquist, ~ty City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Vicki C. Soderquist, Deputy City Clerk of the City of Chula Vista, California, do hereby
certify that the foregoing Resolution No. 17714 was duly passed, approved, and adopted by
the City Council at regular meeting of the Chula Vista City Council held on the 15th day of
November, 1994.
Executed this 15th day of November, 1994.
Vicki C. Soderquist, I~; City Clerk
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