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LS 6.2.20 <br />RESOLUTION NO. 2020-044 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING THE RESTATEMENT OF ITS <br />EXISTING CITY OF SANTA ANA 3121 PART-TIME <br />SOCIAL SECURITY RETIREMENT PLAN FOR <br />ADMINISTRATIVE AND INVESTMENT SERVICES WITH <br />PARS AS TRUST ADMINISTRATOR OF THE PLAN AND <br />UNION BANK AS TRUSTEE OF THE PLAN <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana finds determines and <br />declares as follows: <br />A. WHEREAS it was determined to be in the City's best interest and its <br />employees to adopt the City of Santa Ana 3121 Part -Time Social Security <br />Retirement Plan ("the 3121 Plan"), an Alternative to Social Security Plan, <br />administered by Public Agency Retirement Services ("PARS"), for its <br />employees not eligible for membership in the California Public Employees' <br />Retirement System ("CalPERS"). <br />B. WHEREAS PARS has made a Part -Time Social Security Alternative <br />Retirement Plan available to the City and its employees and qualifies under <br />California Government Code Sections 53215-53224 and 20000, OBRA 90 <br />Section 11332, IRC Sections 3121(b)(7)(F) and 457 and meets the meaning <br />of the term "retirement system" as given by Section 218(b)(4) of the Federal <br />Social Security Act. <br />C. WHEREAS the City issued a Request for Proposals in February 2020 for the <br />record -keeping, communications and investment services for the 3121 Plan <br />and determined that PARS had the most qualified and experienced proposal. <br />D. WHEREAS the City desires to restate its current 3121 Plan and desires to re- <br />appoint PARS as Trust Administrator and Recordkeeper and Union Bank as <br />Trustee for the amended and restated City of Santa Ana 3121 Part -Time <br />Social Security Alternative Retirement Plan effective immediately. <br />Section 2. NOW THEREFORE, BE IT RESOLVED THAT: <br />A. The City Council of the City of Santa Ana, pursuant to the City's authority to <br />amend the existing plan, does hereby adopt the City of Santa Ana 3121 Part - <br />Resolution 2020-044 <br />Page 1 of 3 <br />