HomeMy WebLinkAboutReso 1994-17715 RESOLUTION NO. 17715
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING CONTINUATION OF THE DEFERRED
COMPENSATION PLAN AGREEMENT WITH ICMA RETIREMENT
CORPORATION
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, ICMA Retirement Corporation was added as a second plan administrator
or provide employees with maximum flexibility in directing investment of their deferred
compensation; and,
WHEREAS, the contract with ICMA Retirement Corporation is an open-ended contract
with liberal termination rights granted to the City; and,
WHEREAS, 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
ICMA Retirement Corporation 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 continuation of the Deferred Compensation Plan Agreement with ICMA
Retirement Corporation.
bert W. Powell Bruce M. Boogaard
Director of Finance City Attorney
Resolution No. 17715
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 Nad~'(,, Mayor
ATTEST:
Vicki C. Soderqui~t,D~uty 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. 17715 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, D~_u_~y City Clerk