City Council

9D. City Treasurer - Approve Ninth Amendment to Deferred Compensation Service\nAgreement and Adopt RESOLUTION Approving a Service Agreement, Annuity\nContracts, and Letter Agreement Related to 457(b) Deferred Compensation\nPlans and 401(a) Defined Contribution Plans for City of Torrance Employees.\nExpenditure: None.\nRecommendation of the City Treasurer that City Council:\n1) Approve a ninth amendment to the deferred compensation service agreement with\nEmpower Annuity Insurance Company of America of Greenwood Village, CO\n(C2010-112) to provide annual recordkeeping and communication services related to\nthe 457(b) Deferred Compensation Plans and 401(a) Defined Contribution Plans for\nCity of Torrance employees and to extend the term for a five-year period beginning\nNovember 14, 2023 and ending November 13, 2028; and\n2) Adopt a RESOLUTION approving a service agreement, annuity contracts, and letter\nagreement with Empower Retirement, LLC related to the 457(b) Deferred\nCompensation Plans and 401 (a) Defined Contribution Plans for City of Torrance\nemployees.