HomeMy WebLinkAbout2020-044 - Authorizing the Restatement of its Existing City of Santa AnaLS 6.2.20
RESOLUTION NO. 2020-044
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AUTHORIZING THE RESTATEMENT OF ITS
EXISTING CITY OF SANTA ANA 3121 PART-TIME
SOCIAL SECURITY RETIREMENT PLAN FOR
ADMINISTRATIVE AND INVESTMENT SERVICES WITH
PARS AS TRUST ADMINISTRATOR OF THE PLAN AND
UNION BANK AS TRUSTEE OF THE PLAN
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1. The City Council of the City of Santa Ana finds determines and
declares as follows:
A. WHEREAS it was determined to be in the City's best interest and its
employees to adopt the City of Santa Ana 3121 Part -Time Social Security
Retirement Plan ("the 3121 Plan"), an Alternative to Social Security Plan,
administered by Public Agency Retirement Services ("PARS"), for its
employees not eligible for membership in the California Public Employees'
Retirement System ("CalPERS").
B. WHEREAS PARS has made a Part -Time Social Security Alternative
Retirement Plan available to the City and its employees and qualifies under
California Government Code Sections 53215-53224 and 20000, OBRA 90
Section 11332, IRC Sections 3121(b)(7)(F) and 457 and meets the meaning
of the term "retirement system" as given by Section 218(b)(4) of the Federal
Social Security Act.
C. WHEREAS the City issued a Request for Proposals in February 2020 for the
record -keeping, communications and investment services for the 3121 Plan
and determined that PARS had the most qualified and experienced proposal.
D. WHEREAS the City desires to restate its current 3121 Plan and desires to re-
appoint PARS as Trust Administrator and Recordkeeper and Union Bank as
Trustee for the amended and restated City of Santa Ana 3121 Part -Time
Social Security Alternative Retirement Plan effective immediately.
Section 2. NOW THEREFORE, BE IT RESOLVED THAT:
A. The City Council of the City of Santa Ana, pursuant to the City's authority to
amend the existing plan, does hereby adopt the City of Santa Ana 3121 Part -
Resolution 2020-044
Page 1 of 3
Time Social Security Alternative Retirement Plan and Trust as the City's
alternate to Social Security plan, effective immediately.
B. The City Council hereby re -appoints PARS as Trust Administrator and
Recordkeeper and Union Bank as Trustee for the 3121 Plan effective
immediately.
C. The City Council hereby re -appoints the Executive Director of Finance and
Management Services, or his/her successor or his/her designee as the City's
Plan Administrator for the 3121 Plan.
D. The City's Plan Administrator is hereby authorized to implement the 3121
Plan, execute the PARS legal documents on behalf of the City and to take
whatever additional actions are necessary to maintain the City's participation
in PARS and to maintain compliance with any relevant regulation issued or as
may be issued or amended; therefore, authorizing him/her to take whatever
additional actions are required to administer the City's PARS 3121 Plan.
Section 3. This Resolution shall take effect immediately upon its adoption by the
City Council, and the Clerk of the Council shall attest to and certify the vote adopting this
Resolution.
ADOPTED this 2nd day of June. 2020.
X.M
ueQIA-P u i
Mayor
APPROVED AS TO FORM:
Sonia R. Carvalho
City Attorney
By: � ?— Uxvl-�
Lisa Storck
Assistant City Attorney
Resolution 2020-044
Page 2 of 3
AYES: Councilmembers
NOES: Councilmembers
ABSTAIN: Councilmembers
LS 6.2.20
Bacerra, Mendoza Penaloza, Pulido Sarmiento
Solorio. Villegas (7)
None (0)
None (0)
NOT PRESENT: Councilmembers None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, Daisy Gomez, Clerk of the Council, do hereby attest to and certify the attached
Resolution No. 2020-044 to be the original resolution adopted by the City Council of the
City of Santa Ana on June 2, 2020.
Daisy Gomez
Clerk of the Council
City of Santa Ana
Resolution 2020-044
Page 3 of 3