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CITY OF SANTA ANA <br />GpTf OIy P <br />p <br />,,.. L., <br />MEMORANDUM <br />Date: August 2, 2010 <br />To: Francisco Gutierrez <br />Executive Director, Finance &i Management Services <br />From: Eddie Duque <br />Senior Management Analyst <br />Re: Updated BFSG Consultant Agreement <br />Attached is the Consultant Agreement for Benefit Funding Services Group (BFSG). This update to the <br />prior agreement will include a Scope of Services that includes analysis, assessment, advisory, and <br />implementation services for the City of Santa Ana's 457 - Deferred Compensation and the 3121 - Social <br />Security Alternative Plans. BFSG, as contracted Financial Advisor, also becomes a fiduciary along with <br />the Plan Administrator Committee <br />to the City's overall deferred compensation program. <br />Under this new agreement, payment for services rendered will now be paid out of a new revenue - sharing <br />fund established under a new deferred compensation plan vendor agreement. As such, no General Funds <br />will be used for future Scope of Services payment once a plan sponsor is selected. <br />