HomeMy WebLinkAboutReso - CC - 004-2025RESOLUTION NO. 004-2025
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
AUTHORIZING THE CITY MANAGER TO EXECUTE AMENDMENT NO. 1 WITH NFP
TO PROVIDER RECORDKEEPER SERVICE PROVIDER ANALYSIS /SERVICE
PROVIDER SEARCH SERVICES AND INCREASE THE DEFERRED COMPENSATION
FUND APPROPRIATION BY $36,000
WHEREAS, the City contracts with NFP to provide compliance assistance expertise for the
deferred compensation plan assets; and
WHEREAS, the City contracts with Empower, formerly Mass Mutual, as the deferred
compensation plan administrator/recordkeeper; and
WHEREAS, California Constitution Section 17 of Article XVI and California Code Section
53609 require public sector plan sponsors to manage deferred compensation plans in a prudent,
due diligence manner on behalf of the employees and participants; and
WHEREAS, the City has convened a Deferred Compensation Committee to ensure the Plan is
administered solely in the interest of, and for the exclusive purpose of, providing benefits to participants
and their beneficiaries while defraying reasonable expense of administering the Plan; and
WHEREAS, the City contracts with NFP to perform on-going due diligence services for the Plan
and to provide direction and oversight to the Deferred Compensation Committee; and
WHEREAS, the City wishes to add to the scope of service that NFP provides in order to perform
a recordkeeper analysis and conduct a request for proposal search for recordkeepers; and
WHEREAS, the City needs to amend the current contract with NFP to provide this additional
service and increase the Deferred Compensation Fund appropriation by $36,000.
NOW, THEREFORE, BE IT RESOLVED, that the City Manager is authorized to execute
Amendment No. 1 to the Professional Services Agreement with NFP attached hereto as Exhibit A.
Peter Stevenson, Mayor
I, Meaghan Hassel-Shearer, City Clerk of the City of Burlingame, certify that the foregoing resolution
was introduced at a regular meeting of the City Council held on the 21st day of January, 2025, and was
adopted thereafter by the following vote:
AYES: Councilmembers: BROWNRIGG, COLSON, PAPPAJOHN, STEVENSON, THAYER
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
Meaghan Hassel-Shearer, City Clerk
Docusign Envelope ID: 1B3808A3-50D6-4D1E-9918-B137909242D6
AMENDMENT NO. 1
TO AGREEMENT FOR PROFESSIONAL SERVICES
BETWEEN THE CITY OF BURLINGAME
AND NFP
THIS AMENDMENT NO. 1 is by and between NFP (“Consultant”) and the City of
Burlingame, a public body of the State of California (“City”) (collectively, the “Parties”) to
provide Deferred Compensation and Defined Contribution Consulting Services hereby amends the
Agreement for Professional Services between the Parties dated June 1, 2021, hereinafter called the
“Agreement.”
RECITALS
WHEREAS, on June 1, 2021, the City and Consultant executed that certain Agreement for
Professional Services (“Agreement”) for Deferred Compensation and Defined Contribution
Consulting Services with a term expiring on August 31, 2026; and
WHEREAS, the City has determined that additional work is required from the Consultant
to manage a service provider search for a Deferred Compensation Administrator/Recordkeeper
services; and
WHEREAS, the Consultant is available to provide such services for the benefit of the City
as outlined in Exhibit A – Engagement Agreement and 408(B)(2) disclosure.
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
1. The above Recitals are fully incorporated into this Amendment No. 1 to the
Agreement.
2. The City agrees to compensate the Consultant in an amount not to exceed thirty-six
thousand dollars ($36,000) for this additional scope of work.
3. Except as expressly modified in this Amendment No 1, all other terms and
conditions contained in the original Agreement shall remain in full force and effect.
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IN WITNESS WHEREOF, Consultant and City execute this Amendment No. 1 to the
Agreement, effective as of the date of the City’s execution thereof.
CITY OF BURLINGAME CONSULTANT
501 Primrose Road NFP
Burlingame, CA 94010 120 Vantis, Suite 400
Aliso Viejo, CA
By: By:
Lisa K. Goldman
City Manager Name:
Date: Title:
Date:
Attest:
Meaghan Hassel-Shearer
City Clerk
Approved as to form:
Michael Guina
City Attorney
Attachments:
Exhibit A – Engagement Agreement and 408(B) Disclosure
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