City Council

a. THIRD AMENDMENT TO AGREEMENT FOR CONTRACT SERVICES\nBETWEEN THE CITY OF SIGNAL HILL AND SHUSTER ADVISORY GROUP,\nLLC\nSummary:\nAt its meeting of December 12, 2017, the City Council entered into a Contract\nServices Agreement with Shuster Advisory Group, LLC (formerly SFG\nRetirement Plan Consulting, LLC) for investment advisor and fiduciary services\nfor the City’s 457(b) Deferred Compensation Plan and 401(a) Defined\nContribution Plan. Since June 11, 2019, Shuster Advisory Group has been\nserving as the sole fiduciary for the City’s 457(B) and 401(A) plans. Shuster\nAdvisory Group, LLC (Shuster) is requesting a not to exceed 3% cost of living\nadjustment to its annual compensation, starting on August 1, 2023. City Council\napproval of the proposed Third Amendment to the agreement is required for the\ncompensation structure to be modified.\nRecommendation:\nAuthorize the City Manager to execute Amendment No. 3 to the Contract\nServices Agreement between the City of Signal Hill and Shuster for a cost of\nliving adjustment to its annual compensation, limited to a not-to-exceed\nadjustment of 3%, in a form approved by the City Attorney.