HomeMy Public PortalAbout22-141 Appointing the City's City Manager as the Plan Administrator of the City's Deined Contribution PlansRESOLUTION NO. 22-141
A RESOLUTION OF THE CITY COUNCIL OF THE CITY COUNCIL OF THE CITY OF CARSON, CALIFORNIA,
APPOINTING THE CITY’S CITY MANAGER AS THE PLAN ADMINISTRATOR OF THE CITY’S DEFINED
CONTRIBUTION PLANS
WHEREAS, the City of Carson (“City”) sponsors and maintains the following defined contribution
plans (collectively, "Plans") for the benefit of its eligible employees:
e = 457(b) Plan
e 401(a) Plan
WHEREAS, the Plans currently provide that (i) City (through the City’s governing body) or (ii) a
committee or another person designated by the City will be the administrator and responsible for the
administration, assets and investments of the Plans;
WHEREAS, currently, the City Council is the administrator and bears the fiduciary liability and
responsibilities for the administration, assets, and investments of the Plans;
WHEREAS, leading pension attorneys strongly advise that plan sponsors, which in the municipal
government space is the City/City Council, appoint a new administrator so that the City Council will not
be legally responsible and liable for the administration and investment of the Plans;
WHEREAS, based on fiduciary best practices and following internal consultation, City staff
recommends the appointment of the City Manager as the administrator of the Plans;
WHEREAS, the City Council deems it to be in the best interests of the City and the Plans’
participants to appoint the City Manager as administrator of the Plans.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF CARSON DOES HEREBY FIND, DETERMINE,
AND RESOLVE AS FOLLOWS:
SECTION 1. The foregoing recitals are true and correct and are incorporated herein by reference.
SECTION 2. The City Council hereby appoints the City’s City Manager, and any City staff he/she
may designate to assist him/her in that role, as the administrator of the Plans, with responsibility for the
administration, assets and investments of the Plans;
SECTION 3. The City Council authorizes and directs the City Manager to take all such actions
deemed necessary or appropriate to implement this Resolution.
SECTION 4. This Resolution shall be effective immediately upon its adoption.
SECTION 5. The City Clerk shall certify to the passage and adoption of this Resolution and enter it
into the book of original Resolutions.
01007.0004/800509.1
RESOLUTION NO. 22-141
Page 1 of 2
PASSED, APPROVED, and ADOPTED this 5" day of July 2022.
APPROVED AS TO FORM: CITY OF CARSON:
Cee Hla,
Sunny K. Soltani, City Attorney “Lufa Davis-Holmes, Mayor
ATTEST:
K Prodi aw
Dr. ‘Khaleah K. Bradshaw, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF CARSON )
|, Dr. Khaleah K. Bradshaw, City Clerk of the City of Carson, California, hereby attest to and certify that
the foregoing resolution, being Resolution No. 22-141 adopted by the City of Carson City Council at its
meeting held on July 5, 2022, by the following vote:
AYES: COUNCIL MEMBERS: Davis-Holmes, Hilton, Dear, Hicks, Rojas
NOES: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMEBES: None
ABSENT: COUNCIL MEMBERS: None
LO
Dr. ‘Khaleah K. Bradshaw, City Clerk
01007.0004/800509.1
RESOLUTION NO. 22-141
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