HomeMy WebLinkAbout~Master - Investment Options to Utility Retirement System RESOLUTION NO. 00-291
RESOLUTION APPROVING ADDITION OF INVESTMENT
OPTIONS TO UTILITY RETIREMENT SYSTEM
FOR THE CITY OF AMES, IOWA
WHEREAS, the Utility Retirement System's Participant Review Board met on June 20,
2000, to consider additional investment options for members; and,
WHEREAS,there are currently 11 options available through the System's plan administrator,
Vanguard; and,
WHEREAS, after discussion, the Board voted to recommend that the Vanguard Explorer
Small Capitalization Fund be added; and,
WHEREAS, during the course of the Board's discussion, it was also suggested that
consideration be given to adding self-balancing"asset allocation" type funds; and,
WHEREAS, staff visited with Vanguard representatives and verified that Vanguard's Life
Strategy Funds could be added at no additional cost; and,
WHEREAS, these Funds provide a range of investment options to accommodate
conservative,moderate, or aggressive investors based on personal objectives.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the addition of the Vanguard Explorer Small Capitalization Fund and Vanguard Life Strategy
Funds to the investment options under the Utility Retirement System is hereby approved.
ADOPTED THIS 27th day of June, 2000.
C:�,*"R.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Quirmbach
Voting aye: Cross, Goodhue, Hoffinan, Quirmbach, Wirth
Voting nay: None Absent: Campbell
Resolution declared adopted and signed by the Mayor this 27th day of June, 2000.