City Council

9. AMENDMENT NO. 3 TO AGREEMENT FOR SERVICES WITH NFP\nRETIREMENT FOR CONSULTING AND EDUCATION SERVICES FOR\nTHE CITY’S RETIREMENT PLANS [J. JIMENEZ, R. NAPPER, C.\nLEUNG, C. KOKUBUN]\nSUBJECT: The City Council will consider amending the agreement for\nservices with NFP Retirement to increase the not-to-exceed amount and\nextend the term of the agreement to provide consulting and education\nservices for fiduciary oversight and prudent plan management of the City’s\n457(b) Deferred Compensation, 401(a) Defined Contribution, and Retiree\nHealth Savings Account (RHSA) Plans.\nRECOMMENDATION: 1) Approve Amendment No. 3 to the Agreement for\nServices with NFP Retirement to increase the amount of the agreement by\n$40,000 for a total not-to-exceed amount to $152,500, and to extend the\nagreement by two years from June 30, 2024 to June 30, 2026; and 2)\nAuthorize the City Manager or designee to execute the documents incident\nto the Agreement.