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<br /> <br /> <br /> <br /> <br /> <br /> Section 2. NOW THEREFORE, BE IT RESOLVED THAT: <br /> <br /> A. The City Council of the City of Santa Ana, pursuant to the City's authority <br /> to amend the existing plan, does hereby adopt the City of Santa Ana 3121 <br /> Part-Time Social Security Alternative Retirement Plan (the "Plan") and <br /> Trust as the City's alternate to Social Security plan, replacing the existing <br /> 3121 Plan in full, effective December 19, 2011; <br /> B. The City Council hereby appoints PARS as Trust Administrator and <br /> Recordkeeper and Union Bank as Trustee for the Plan effective December <br /> 19, 2011; <br /> <br /> C. The City Council hereby terminates Great West Retirement Services as <br /> Trust Administrator and Recordkeeper effective December 19, 2011; <br /> <br /> D. The City Council hereby authorizes the liquidation and transfer of plan <br /> assets to Union Bank as soon as administratively feasible pursuant to the <br /> terms and conditions of the Great West Retirement Services Guaranteed <br /> Certificate Fund/Daily Interest Guaranteed Fund II; <br /> <br /> E. The City Council hereby appoints the Executive Director of Finance and <br /> Management Services, or his/her successor or his/her designee as the <br /> City's Plan Administrator for the Plan; <br /> <br /> F. The City's Plan Administrator is hereby authorized to implement the Plan, <br /> execute the PARS legal documents on behalf of the City and to take <br /> whatever additional actions are necessary to maintain the City's <br /> participation in PARS and to maintain compliance of any relevant <br /> regulation issued or as may be issued; therefore, authorizing him/her to <br /> take whatever additional actions are required to administer the City's <br /> PARS Plan. <br /> <br /> Section 3. This Resolution shall take effect immediately upon its adoption by <br /> the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br /> this Resolution. <br /> <br /> ADOPTED this day of 2011. <br /> <br /> <br /> <br /> <br /> <br /> <br /> Miguel A. Pulido <br /> Mayor <br /> <br /> Resolution No. 2011-XXX <br /> Page 2 of 3 <br /> <br /> 55C-4 <br />