DISCLAIMER

 

07-0097R


RESOLUTION AUTHORIZING THE EXECUTION OF AN ADMINISTRATIVE SERVICES AGREEMENT WITH NATIONWIDE RETIREMENT SOLUTIONS, INC. RELATING TO THE CITY’S DEFERRED COMPENSATION PLAN.

BY COUNCILOR KRAUSE:

     RESOLVED, that the proper city officials are hereby authorized to execute an administrative services agreement and Amendment A with Nationwide Retirement Solutions, Inc., which will permit such company to provide its financial products to city employees under the city’s deferred compensation plan, which agreement is on file in the office of the city clerk as Public Document No. ____________.


STATEMENT OF PURPOSE:  This resolution approves an agreement with Nationwide Retirement Solutions, Inc., which will allow such company to make its financial products available to city employees under the city’s deferred compensation plan. The city’s deferred compensation plan commission has reviewed the proposal of Nationwide and has recommended that such company be approved as a vendor under the city’s plan. Fees for the company’s services are not paid for by the city, but are payable from the participants’ accounts. At the present time, the approved vendors under the city’s plan are Hartford Life Insurance Company, ICMA Retirement Corporation, and the state of Minnesota deferred compensation plan.