HomeMy WebLinkAbout2023-049 - Amending Resolutions 2011-024 and 2016-053 and Appointing the Executive Director of the Finance and Management Services Agency as the Plan Administrator for the City's 457(B), 401(A) and 401(H) PlansRESOLUTION NO.2023-049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AMENDING RESOLUTIONS 2011-024 AND
2016-053 AND APPOINTING THE EXECUTIVE DIRECTOR
OF THE FINANCE AND MANAGEMENT SERVICES
AGENCY AS THE PLAN ADMINISTRATOR FOR THE
CITY'S 457(B), 401(A) AND 401(H) PLANS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1: The City Council hereby finds, determines and declares as follows:
A. The City sponsors a 457(b) Deferred Compensation Plan currently through
Prudential, 401(a) Retirement Savings Plan through Public Agency
Retirement Services ("PARS"), and 401(h) Retirement Health Savings Plan
through Mission Square (the "Plans") which are funded through employee
salary deferrals and any employer matching contributions authorized by the
City Council. All third -party expenses of administering the Plans are paid by
those current and former employees participating in the Plans.
B. As sponsor, the City has fiduciary obligations relating to the Plans. These
fiduciary obligations generally include monitoring the investment funds
available to participants in the Plans, determining whether changes should be
made to investment funds available through the Plan, maintaining compliance
with applicable federal and state laws and regulations, and completing
necessary paperwork related to the Plans.
C. Pursuant to Resolution 2011-80 as amended by Resolution 2016-053, the
Executive Director of Finance was appointed as the City's Plan Trustee and
the Executive Director of Human Resources as Plan Administrator for the
City's 401(h) Retirement Health Savings Plan. Pursuant to Resolution 2011-
024, the Executive Director of Human Resources was designated as Plan
Administrator for the 401(a) PARS Plan.
D. It is now desired to appoint the Executive Director of Finance and
Management Services Agency ("Finance Director") as the Plan Administrator
for all the Plans and to amend Resolutions 2011-024 and 2016-053 as to the
designated Plan Administrator.
Section 2: The Santa Ana City Council hereby amends Resolutions 2011-024
and 2016-053 as to the designation of the Plan Administrator and appoints the Finance
Director as Plan Administrator for the 457(b) Deferred Compensation Plan, 401(a)
Retirement Savings Plan, and 401(h) Retirement Health Savings Plan, which includes
full authority and responsibility to manage all fiduciary requirements associated with the
Resolution No. 2023-049
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Plans including but not limited to maintaining the City's participation in the Plans, and
maintaining compliance with any relevant federal or state law or regulation.
Section 3: The Santa Ana City Council further grants the authority to manage
all settlor functions associated with the Plans, including but not limited to optional
amendments of the Plans, except amendments that increase the cost, which shall
require the approval of the City Council.
Section 4: The Santa Ana City Council further grants the Finance Director the
authority to select, monitor, and deselect service providers as necessary to effectively
exercise the authority granted through this Resolution, except for service providers that
increase the cost, which shall require approval of the City Council.
Section 5: The Santa Ana City Council also hereby grants authority to the
Finance Director to delegate or assign specific responsibilities or tasks to City
employees or outside service providers utilizing the City's normal contracting provisions
provided the Finance Director monitors and manages the actions of such delegates.
Section 6. 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 1st day of August 2023.
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By: ;kao, 9v
Laura A. Rossini
Chief Assistant City Attorney
Resolution No. 2023-049
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AYES: Councilmembers
NOES: Councilmembers
ABSTAIN: Councilmembers
Amezcua, Bacerra, Hernandez, Lopez
Penaloza, Phan, Vazquez (7)
None (0)
None (0)
NOT PRESENT: Councilmembers None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, JENNIFER L. HALL, City Clerk, do hereby attest to and certify the attached
Resolution No. 2023-049 to be the original resolution adopted by the City Council of the
City of Santa Ana on August 01, 2023.
Date:
Jennif. . H
City Clerk
City of Santa Ana
Resolution No. 2023-049
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