City Council

1.i. Resolution Authorizing the Transition of the City’s Deferred\nContribution Plan from Public Agency Retirement Services\n(PARS) to the ICMA Retirement Corporation Governmental\nProfit-Sharing Plan & Trust Fiscal Impact: None\nRecommended Action: It is recommended that the City\nCouncil:\n1) Staff recommends City Council adopt Resolution R-\n2023-79 approving the transition of the City’s Defined\nContribution Plan for Eligible Employees from PARS to\nICMA Retirement Corporation Governmental Profit-\nSharing Plan and the discontinuance of the City’s\nparticipation in the Public Agency Retirement System\n(PARS) Defined Contribution Plan and related services\nof PARS as Trust Administrator, U.S. Bank N.A. as\nTrustee, and John Hancock Retirement Services as\nCustodian/Record Keeper; and\n2) Authorize the City Administrator to execute all necessary documents.\nStaff Report\nResolution R-2023-79