55B - RESO AND AGMT WITH POA - Laserfiche WebLink

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Section 2. The City Council of the City of Santa Ana hereby authorizes the implementation of the PARS Trust Supplementary Retirement Plan for said twenty-five (25) POA retirees, as part of the City's Retirement Program. Section 3. The City Council hereby appoints PARS Trust as Trust Administrator and Record keeper for the Plan. Section 4. The City Council hereby authorizes the transfer of funds to a financial institution as agreed upon by PARS and the Plan Administrator as soon as administratively feasible. Section 5. The City Manager and the Executive Director of Personnel Services are hereby authorized to execute and submit the Administrative Services Agreement, Trust document and any other documents necessary to implement the PARS Trust Supplementary Retirement Plan for said twenty-five (25) POA retirees, on behalf of the City. Section 6. The City Council hereby appoints the Executive Director of Personnel Services, or her designee, as the City's Plan Administrator for the Plan. Section 7. The City's Plan Administrator is hereby authorized to implement the Plan and to take additional actions as necessary to maintain the City's participation in PARS, maintain compliance with any regulations regarding the Plan, and to administer the PARS Trust Supplementary Retirement Plan for said twenty-five (25) POA retirees, on behalf of the City. Section 8. If the City's Plan Administrator finds that the PARS Trust Supplementary Retirement Plan for said twenty-five (25) POA retirees must be limited under Section 415 of the Internal Revenue Code, then the Plan Administrator will implement replacement benefit programs at no additional cost to the City. Section 9. This Resolution shall take effect immediately upon its adoption. 55B-4