HomeMy Public PortalAboutR2274 R E S O L U T I O N NO. 2274
WHEREAS, The Metropolitan St. Louis Sewer District, pursuant to Ordinance
No. 9950, adopted September 12, 1996, provides for the benefit of its employees a Deferred
Compensation Plan in compliance with Section 457 of the United States Internal Revenue
Code ("Code"), and
WHEREAS, in order to remain in compliance with the Code, compensation
deferred under said Deferred Compensation Plan, shall at all times remain the sole asset of
The Metropolitan St. Louis Sewer District, and a separate book account will be maintained for
each participant to prescribe the investment of said Deferred Compensation through a
Participant Agreement, and
WHEREAS, it is the fiduciary responsibility of the Trustees of The Metropolitan
St. Louis Sewer District to provide appropriate investment options,
NOW, THEREFORE, BE IT RESOLVED that the following investment managers
be appointed to act on behalf of the Deferred Compensation Plan of The Metropolitan St.
Louis Sewer District in the manner as hereafter provided.
(A) Vanguard Windsor II Fund as managed by Barrow, Hanley, Mewhinney &
Strauss is hereby appointed as the Equity-Income Investment Manager of the
funds.
(B) Vanguard Index 500 is hereby appointed as the Equity-Growth and Income
Investment Manager of the funds.
(C) Vanguard U.S. Growth Fund - as managed by the Lincoln Capital Management
Company is hereby appointed as the Equity-Growth Investment Manager of the
funds.
(D) Dodge & Cox, Inc. is hereby appointed as the Balanced Fund Investment
Manager of the funds.
(E) Vanguard TOTAL Bond Index Fund is hereby appointed as the Bond Fund
Investment Manager of the Funds.
(F) Vanguard Money Market Reserve - Federal Portfolio is hereby appointed as the
Money Market Investment Manager of the funds.
(G) American Express Institutional Services is hereby appointed as the Stable Value
3
Investment Manager of the funds.
(H) Lincoln National Life is hereby appointed as a Manager for the Existing Annuity
Option of the funds.
(I) Mercantile Trust Company is hereby appointed as Short Term Investment Fund
Manager and Record Keeper.
BE IT FURTHER RESOLVED that the Executive Director, with the approval of
the Chairman of the Board of Trustees of The Metropolitan St. Louis Sewer District, is hereby
authorized to execute any necessary instruments to give effect to the foregoing.
The foregoing Resolution was adopted December 15, 1997.