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Resolution No. 2023-XXX <br />Page 1 of 1 <br />RESOLUTION NO. 2023-XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AMENDING RESOLUTIONS 2011-024 AND <br />2016-053 AND APPOINTING THE EXECUTIVE DIRECTOR <br />OF THE FINANCE AND MANAGEMENT SERVICES AGENCY <br />AS THE PLAN ADMINISTRATOR FOR THE CITY’S 457(B), <br />401(A) AND 401(H) PLANS. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1: The City Council hereby finds, determines and declares as follows: <br />A.The City sponsors a 457(b) Deferred Compensation Plan currently <br />through Prudential, 401(a) Retirement Savings Plan through Public <br />Agency Retirement Services (“PARS”), and 401(h) Retirement Health <br />Savings Plan through Mission Square (the “Plans”) which are funded <br />through employee salary deferrals and any employer matching <br />contributions authorized by the City Council. All thi rd-party expenses <br />of administering the Plans are paid by those current and former <br />employees participating in the Plans. <br />B.As sponsor, the City has fiduciary obligations relating to the Plans. <br />These fiduciary obligations generally include monitoring the investment <br />funds available to participants in the Plans, determining whether <br />changes should be made to investment funds available through the <br />Plan, maintaining compliance with applicable federal and state laws <br />and regulations, and completing necessary paperwork related to the <br />Plans. <br />C.Pursuant to Resolution 2011-80 as amended by Resolution 2016-053, <br />the Executive Director of Finance was appointed as the City’s Plan <br />Trustee and the Executive Director of Human Resources as Plan <br />Administrator for the City’s 401(h) Retirement Health Savings Plan. <br />Pursuant to Resolution 2011-024, the Executive Director of Human <br />Resources was designated as Plan Administrator for the 401(a) PARS <br />Plan. <br />D.It is now desired to appoint the Executive Director of Finance and <br />Management Services Agency (“Finance Director”) as the Plan <br />Administrator for all the Plans and to amend Resolutions 2011-024 and <br />2016-053 as to the designated Plan Administrator. <br />EXHIBIT 1