HomeMy WebLinkAboutReso - CC - 066-2016RESOLUTION NO. 66-2016
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME AMENDING THE
AGREEMENTS WITH MASSMUTUAL AND RELIANCE TRUST COMPANY
WHEREAS, on April 18, 2016, the City Council authorized the City to enter into a
contract with MassMutual to execute an administrative services agreement and an investment
agreement for the City's 457(b) plans; and
WHEREAS, the date the contract was to go into effect was not known when the
resolution was adopted; and
WHEREAS, staff now knows the funds will be transferred on August 1, 2016, which will
be the effective date of the contract.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME DOES HEREBY
RESOLVE AND ORDER AS FOLLOWS:
The City Council hereby approves and authorizes the City Manager to execute an administrative
services agreement and an investment agreement with MassMutual Life Insurance, as well as a
trustee services agreement with Reliance Trust, for deferred compensation services on behalf of
the City effective August 1, 2016.
I, MEAGHAN HASSEL-SHEARER, City Clerk of the City of Burlingame, doYereby certify that the
foregoing resolution was introduced at a regular meeting of the City Council held on the 20th
day of June 2016, and was adopted thereafter by the following vote:
AYES: COUNCIL MEMBERS: BEACH, BROWNRIGG, COLSON KEIG RAN, ORTIZ
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE A /�