HomeMy WebLinkAboutReso 2015-167 RESOLUTION NO. 2015-167
RESOLUTIOI�' OF THE CITY COUNCIL OF THE CITY OF
CHULA \'ISTA APPROVII�'G A SECOND AMENDMENT TO
THE DEFERRED CO?�4PENSATIO?�' PLAN
ADMII�'ISTRATIOI�' AGREEME\T BET�4'EEN N.AT[ON�4�IDE
RET[REMENT SOLUTIONS. II�'C. AND THE CITI' OF
CHULA VISTA
l�'HEREAS. Plan Sponsor currentiv maintains the Cit�� of Chula Vista 4�7(b) Deferred
Compensation Plan (the "Plan'): and
l�'HEREAS, the orieinal Agreement that is [he subject of this Second Amendment ���as
executed between Great Western Banl: (��Great \Vestern `) and the Citv, with an effective date of
the 1 st dav of December. 1994: and
�1'HEREAS; Washineton �4utual, FA ('WaMu ') became the successor bv merger to
Great R'estem; and as a result, the successor to Great R'estem as a party to the Aereement; and
WHEREAS, V1'aA4u assigned the Agreement to 1�'ational Deferred Compensation, Inc. as
a successor party to the Agreement between V�'aMu and the City by virtue of an Assienment of
Deferred Compensation Plan Administration Agreement effective the 17th da�� of August. 1999_
and
�l'HEREAS, Nationti�ide currentl}� pro��ides certain non-discretionan� administrative.
recordkeeping, and reportine sen�ices to the Plan (hereinafrer referred to as "Administrati��e
Services ') by ��irtue of an Assignment of Deferred Compensation Plan Administration
Agreement to I�atiomvide from I�'ational Deferred Compensation_ [nc., �i�ho «�as acquired b}� a
���holl��-o��med subsidian� ofl�'atiom�ide Financial Services. Inc. in 1998. �+�hich Assienment ���as
e�ecuted in 200�: and �
1�'HEREAS. \'atiomvide and the City pre��iouslv esecuted an Amendment to the
Aereement on the 30th dav of November. 2011. �;�ith an effecti��e date of the l�th da� of
No��ember. 201 l, regarding the creation of an administrati��e expense reimbursement account for
the Plan: and
�1'HEREAS. the Cit�� desires to continue to contract ���ith \'atiomvide in connection �ti�ith
the administration of the Plan and Nationwide desires to continue to pro��ide the Administrative
Services.
NOV�'. THEREFORE. BE IT RESOLVED bv the Cit�� Council of the Citv of Chula
Vista. that it herebv appro��es the "Second Amendment to the Deferred Compensation Plan
Administration Asreement." bet�+�een I�'ation��ide Retirement Solutions. Inc. and the Cit��. in
substantiall}� the form presented: with such minor modifications as the City Attome}� ma�� require
or approve; a copy of�vhich is on file in the Office of the Cit�� Clerk.
Resolution No. 201�-167
Page No. 2
Presented by Approved as to form by
� �
`�� / ,
Maria l achadoorian fGlen R:�oogins�
Deputy Cit�� Manager/Director of Finance it�tt mey
PASSED, APPROVED, and ADOPTED by the City Council of the City of Cbula Vista,
California, this 14th da}� of Jul}� 2015 by the following vote:
AYES: Councilmembers: Aguilac Bensoussan, McCann, Miesen and Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
.
Mary S s; Mayor
ATTEST: �
�
Donna R. Norris. . Cin� Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
1, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2015-167 was duly passed, approved, and adopted by the City Council at a
re�ular meeting of the Chula Vista Ciry Council l�eld on the l4th day of July 2015.
Executed this 14th day of July 2015.
�
Donna R. Norris, MC, City Clerk