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Agreement with ICMA-RD <br />For Deferred Comp Services <br />December 6, 2010 <br />Page 2 <br />participant's current costs, and ability to offer personalized educational and financial services. After <br />extensive review, the four top rated firms were interviewed including Great-West Life, ICMA-RC, <br />Nationwide, and The Hartford. Of these, ICMA-RC and Great-West were asked to return for final <br />interviews. ICMA-RC has been selected as the recommended vendor for recordkeeping, <br />administration, and retirement financial planning services. <br />ICMA-RC, established since 1972, provides retirement plans, products and services to state and local <br />government employers and their employees. ICMA-RC offers significant overall improvements <br />including a reduction in expense fees for participants and administrative costs. The City's Plan will <br />not be charged for legal, loan servicing, or domestic relations order processing. The City will have its <br />own custom website designed. Included within the pricing are individualized financial planning <br />services; all participants will automatically receive a financial needs assessment plan at no additional <br />charge, greater account balances qualify for goal specific or comprehensive financial plans. <br />Upon Council authorization, a comprehensive transition plan will take place for the 457 Plan over the <br />next 120 days. The conversions will consist of comprehensive communications, multi-site meetings, <br />and individual participant and retiree appointments to insure employees are informed and updated on <br />all the new plan improvements and enhancements. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency V <br />FG/ed/tmr <br />Exhibit: 1. Agreement <br />25L-2