HomeMy WebLinkAboutResolution - 3618 STATE OF CALIFORNIA) RESOLUTION NO. 3618
COUNTY OF RIVERSIDE)ss
CITY OF SAN JACINTO)
A RESOLUTION OF THE CITY OF SAN JACINTO,
CALIFORNIA, APPROVING ADOPTION OF CALPERS
SUPPLEMENTAL INCOME 457 PLAN
WHEREAS, the City of San Jacinto desires to establish an additional deferred
compensation plan for the benefit of its employees; and
WHEREAS, the Board of Administration (the "Board") of the California Public
Employees' Retirement System ("CaIPERS") has established the CaIPERS
Supplemental Income 457 Plan (the "CaIPERS 457 Plan") which may be adopted by a
governmental employer the employees of which are public employees; and
WHEREAS, the City of San Jacinto believes that the CaIPERS 457 Plan and the
investment options available thereunder will provide valuable benefits to its employees;
and
WHEREAS, the Board has appointed Voya Financial (the "Plan Recordkeeper")
to perform recordkeeping and administrative services under the CaIPERS 457 Plan and
to act as the Board's agent in all matters relating to the administration of the CaIPERS
457 Plan;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of San
Jacinto adopts the CaIPERS 457 Plan for the benefit of its employees and authorizes
the City Manager to execute the attached "Employer Adoption Agreement" (and any
other agreements necessary, including the attached "Employer Loan Provision" and
"Employer Election to Offer Self-Managed Accounts") ("Exhibit A") on behalf of the City
of San Jacinto and to provide CaIPERS or any successor agent duly appointed by the
Board with such information and cooperation as may be needed on an ongoing basis in
the administration of the CaIPERS 457 Plan. A copy of this resolution, the agreement,
and any attachments thereto shall be on file in the office of the City Clerk.
PASSED, APPROVED and ADOPTED this 3rd day of May 2016, by the
following vote:
Ayes: Ledezma, Miller, Ruiz, Kotyuk
Nays: None
Abstain: None
Absent: None
City of San Jacinto
Arndrew F. Kotyuk, Mayor
ATTEST:
Pegg s, I Brim City-Clerk
APPROVED AS TO FORM:
BEST, BEST & KRIEGER LLP
Jeffre S. Ballinger, City Attorney
CERTIFICATION
I, Peggy J. Johns, Interim City Clerk of the City of San Jacinto, do hereby certify
that the foregoing Resolution No. 3618 was passed, approved, and adopted at the
Regular Meeting of the San Jacinto City Council held on the 3rd day of May, 2016, by
the following vote:
AYES: Ledezma, Miller, Ruiz, Kotyuk
NAYS: None
ABSTAIN: None
ABSENT: None
WITNESS MY HAND AND OFFICIAL SEAL this 3rd day of May, 2016.
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Pegg ns, nterim City Clerk
City o a ad to