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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 /�