HomeMy Public PortalAbout2012_12_11_R127 Awarding the Employee Deferred Compensation ContractThe Town of
Leesburg,
Virginia
PRESENTED December 1 l , 2012
RESOLUTION NO. 2012 -127 ADOPTED December 11, 2012
A RESOLUTION: AWARDING THE EMPLOYEE DEFERRED COMPENSATION CONTRACT
WHEREAS, the Town sponsors two deferred compensation plans for its employees, and
WHEREAS, an RFP was issued to seek competitive options for this program, and
WHEREAS, seven proposals were received from ICMA -RC, ING, John Hancock, Lincoln Financial,
Nationwide Financial, VALIC and Wells Fargo Institution Retirement, and
WHEREAS, proposals were evaluated against criteria to offer a single plan that provides a high level
of customer service, effective communications and a broad selection of investment funds at a reasonable
cost, and
WHEREAS, ICMA -RC's proposal meets or exceeds all the criteria and offers significant cost
savings for participating employees, and
WHEREAS, this contract is a seven year contract with the option to renew for up to three additional
one year periods, and
WHEREAS, the employee evaluation team unanimously recommends that the Town Council award
this contract to the ICMA -RC.
THEREFORE, RESOLVED, by the Council of the Town of Leesburg in Virginia that contract for
Employee Deferred Compensation be awarded to the International City /County Managers Association
Retirement Corporation.
PASSED this I Ith day of December, 2012.
ATTEST: "1
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Clerk of 06u it
P: \Resolutions\2012 \1211 Awarding the Employee Deferred Compensation Contract.doc
Kristen C. Umstattd, Mayor
Town of Leesburg