HomeMy WebLinkAbout~Master - ICMA-RC 457(b) Plan Administrator RESOLUTION NO. 07-119
RESOLUTION APPROVING ICMA-RC TO BE A
457(b) PLAN ADMINISTRATOR
THROUGH JUNE 30, 2012
FOR THE CITY OF AMES
WHEREAS,the City of Ames is the plan sponsor for an IRS Section 457(b)Employee Deferred
Compensation Plan; and,
WHEREAS, the Plan is fully funded through payroll deductions from the employees, with the
ICMA Retirement Corporation(ICMA-RC) acting as trustee and plan administrator; and,
WHEREAS, ICMA-RC has offered to eliminate the annual fee provided that the City of Ames
permit them to be a 456(b)plan administrator through June 30, 2012; and,
WHEREAS, the City of Ames has a fiduciary duty to serve the plan participants; and,
WHEREAS,eliminating the annual fee will provide a substantial savings and enhance the value
of the Plan to the employees.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,that
permission is hereby given for ICMA-RC to be a 456(b)plan administrator through June 30, 2012.
ADOPTED THIS 27th day of March, 2007.
LY-J& A. "I/.
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Popken
Seconded by: Doll
Voting aye: Doll, Goodman, Mahayni, Popken, Rice
Voting nay: None Absent: Larson
Resolution declared adopted and signed by the Mayor this 27t'day of March, 2007.