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<br /> <br /> <br /> <br /> <br /> <br /> Lss 11/23/10 <br /> RESOLUTION NO. 2010- <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> SANTA ANA DESIGNATING PUBLIC AGENCY <br /> RETIREMENT SERVICES AS THE TRUST <br /> ADMINISTRATOR AND UNION BANK AS TRUSTEE OF <br /> THE DEFERRED COMPENSATION PLAN FOR CITY OF <br /> SANTA ANA PART-TIME, SEASONAL AND TEMPORARY <br /> EMPLOYEES, EFFECTIVE DECEMBER 20, 2010, AND <br /> AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br /> DEFERRED COMPENSATION PLAN AND TRUST <br /> DOCUMENTS <br /> <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA <br /> ANA AS FOLLOWS: <br /> <br /> Section 1. The City Council of the City of Santa Ana hereby finds, determines <br /> and declares as follows: <br /> <br /> A. The City Council of the City of Santa Ana ("City") has adopted a Social <br /> Security alternative retirement plan for its part-time, seasonal and <br /> temporary employees, referred to as the "3121 Plan"; and <br /> <br /> B. The City's 457 PST Plan qualifies under California Government Code <br /> Sections 53215-53224 and 20000, OBRA 90 Section 11332, and IRC <br /> Sections 3121(b)(7)(F) and meets the definition of "retirement system" as <br /> set forth by Section 218(b)(4) of the Federal Social Security Act; and <br /> <br /> C. After receiving and reviewing a number of proposals for administrative and <br /> trust services required to manage the 3121 Plan, the City has determined <br /> that it is in the best interests of the City and its part-time, temporary and <br /> seasonal employees to appoint a new Plan Administrator and Trustee. <br /> <br /> <br /> Section 2. The City Council of the City of Santa Ana hereby adopts the City of <br /> Santa Ana PARS 3121 FICA Alternative Retirement Plan (the "Plan") and Trust as the <br /> City's alternative to Social Security plan, replacing the current 3121 Plan, effective <br /> December 20, 2010. <br /> <br /> <br /> Section 3. The City Council hereby appoints Public Agency Retirement <br /> Services ("PARS") as Trust Administrator and Recordkeeper, and Union Bank as <br /> Trustee for the Plan effective December 20, 2010. <br /> <br /> <br /> <br /> Resolution No. 2010- <br /> 55A-3 Page 1 of 3 <br />