HomeMy WebLinkAboutReso 2015-166 RESOLUTION NO. 2015-166
RESOLUTIOI`' OF THE CITY COUNCIL OF THE CITY OF
CHliLA VISTA .APPROVII�'G AI�' ADAIII�'ISTRATIVE
SERVICES AGREEh4ENT BETWEEN ICA4A RETIREMEN7
CORPORATIOTi AND THE CITY OF CHULA VISTA
R%HEREAS. emplo��er acts as public plan sponsor of a retirement pian and (`Plan"). in
that capaciri-. has responsibilit�� to obtain administrati��e sen�ices and investment altematives for
the Plan: and
R'HEREAS. VantaeeTrust is a group trust established and maintained in accordance ���ith
I�'e��' Hampshire Re��ised Statutes, Annotated section 391:1 and Intemal Revenue Service Ruline
81-100, 1981-1 C.B. 326 which pro��ides for the commingled investment of retirement fu�ds
held by ��arious state and local eo��emmental units for their employees; and
�'�'-I-IEREAS. IC�4A-RC acts as investment adviser to VantaeeTrust Compam�, LLC, the
Trustee of VantaeeTrust: and �
WHEREAS, ICA4A-RC has designed, and VantaeeTrust offers, a series of separate funds
(the "Funds") for the investment of plan assets as referenced in VantaeeTrust's principal
disclosure document "Makine Sound In��estment Decisions: A Retirement In��estment Guide '
and the accompanying VantageTrust Fund Fees and Expenses document (`Retirement
Investment Gudie '); and
WT3EREAS. the Funds are available onl}� to public emplo}�ers and onlv throueh
VataeeTrust and ICD�IA-RC: and �
WILEREAS. in addition to sen�ins as im�estment adviser to VantaeeTrust ICI�4A-RC
provides a ranae of service to public employers for the operation of emplo}�ee retirement plans
includine, but�not limited to, eommunications concemina investment altematives. account
maintenance, account recordkeeping, investment and ta� reporting. transaction processine,
benefit disbursement and asset manaeement: and
��"HEREAS. IC?�4A-RC �vill provide an administrative allo���ance to the Cit}� for the
reimbursement of reasonable plan administrati��e e�penses.
NO�'. THEREFORE. BE IT RESOLVED b�� the Citv Council of the Citv of Chula
Vista that it does hereby appro��e the Administrative Sen�ices Agreement bern�een IC�4A
Retirement Corporation and the Cit�• of Chula Vista in substantialh� the form presented ���ith
such minor modifications as the City Attome}� may require or appro��e. a copy of���hich is on file
in the Office of the Cin� Clerk.
Resolution No. 201�-166
Page No. 2
Presented by Approved as to form by
_ � � �_
�.
Maria Kachadoorian en R`. �ro gins
Depu y City Mana�er/Director of Finance Cit tto a�y
PASSED; APPROVED. and ADOPTED by the City Counci] of the City of Chula Vista,
Califomia, this 14th day of July 2015 by the following vote:
AYES: Councilmembers: Aguilar, Bensoussan, McCann, Miesen and Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
�
Mary Sa s, Mayor
ATTEST:
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Donna R. Norris. CMC. Citv Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 201�-166 was duly passed, approved, and adopted by the City Council at a
regular meetina of the Chula Vista City Council held on the 14th day of July 2015.
Executed this 14th da}� of July ZO15.
�:,�� � �
Donna R. Norris, CMC, City Clerk