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Item 19 - Agreement with Empower Annuity Insurance Company for the Employee Deferred Compensation Plan
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09/19/2023 Regular
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Item 19 - Agreement with Empower Annuity Insurance Company for the Employee Deferred Compensation Plan
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Last modified
10/24/2023 11:43:40 AM
Creation date
10/24/2023 11:35:25 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
19
Date
9/19/2023
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68 <br />operational compliance of the Plan with Plan documents, and, where applicable, for ensuring that the Plan <br />is qualified under Section 401(a) of the code and its related trust is tax-exempt under Section 501(a) of the <br />Code. Plan Sponsor will notify Adviser promptly if Plan Sponsor should learn of any facts or of any <br />regulatory action or prospective action which may result in the Plan ceasing to be qualified, where <br />applicable, under Section 401(a) of the Code. Plan Sponsor acknowledges that while Adviser may possess <br />and consult a copy of the Plan, trust agreement or related document(s), the possession or consultation of <br />those documents shall not alter or expand Adviser’s responsibilities under this Schedule. If the Services <br />will be offered in a non-qualified plan, Plan Sponsor has reviewed the form of payment of Adviser’s fees <br />and determined that it is appropriate given the design and operation of the non-qualified plan.
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