2000 - ICMA - Retirement Corporation - 457 Retirement PlanADMINISTRATIVE SERVICES AGREEMENT
Between
ICMA Retirement Corporation
and
City of Rosemead
Type: 457
Account #:300934
Type: 401
Account #:.106564
m
Plan numbers 300934, 106564
ADMINISTRATIVE SERVICES AGREEMENT
This Administrative Services Agreement ( "Agreement "), made as of the day
of , 2013 (herein referred to as the "Inception Date "), between the International
City Management Association Retirement Corporation ( "ICMA -RC "), a nonprofit
corporation organized and existing under the laws of the State of Delaware, and the City
of Rosemead ("Employer "), a City organized and existing under the laws of the State of
California with an office at 8838 East Valley Boulevard, Rosemead, California 91770.
RECITALS
Employer acts as public plan sponsor of a retirement plan ( "Plan "), and in that
capacity, has responsibility to obtain administrative services and investment alternatives
for the Plan;
VantageTrust (the "Trust ") is a group trust established and maintained in
accordance with New Hampshire Revised Statutes Annotated section 391:1 and Internal
Revenue Service Revenue Ruling 81 -100, 1981 -1 C.B. 326, which provides for the
commingled investment of retirement funds held by various state and local governmental
units for their employees;
ICMA -RC acts as investment adviser to VantageTrust Company, the Trustee of
the Trust;
ICMA -RC has designed, and the Trust offers, a series of separate funds (the
"Funds ") for the investment of plan assets as referenced in the Trust's principal
disclosure document, "Making Sound Investment Decisions: A Retirement Investment
Guide." ( "Retirement Investment Guide ").
The Funds are available only to public employers and only through the Trust and
ICMA -RC.
In addition to serving as investment adviser to the Trust, ICMA -RC provides a
range of services to public employers for the operation of employee retirement plans
including, but not limited to, communications concerning investment alternatives,
account maintenance, account recordkeeping, investment and tax reporting, transaction
processing, benefit disbursement, and asset management.
Plan numbers 300934, 106564
AGREEMENTS
1. ADDointment of ICMA -RC
Employer hereby appoints ICMA -RC as Administrator of the Plan to perform all
nondiscretionary functions necessary for the administration of the Plan. The functions to
be performed by ICMA -RC shall be those set forth in Exhibit A to this Agreement.
2. Adoption of Trust
Employer has adopted the Declaration of Trust of VantageTrust Company and agrees to
the commingled investment of assets of the Plan within the Trust. Employer agrees that
operation of the Plan and the investment, management, and distribution of amounts
deposited in the Trust shall be subject to the Declaration of Trust, as it may be amended
from time to time and shall also be subject to terms and conditions set forth in disclosure
documents (such as the Retirement Investment Guide or Employer Bulletins) as those
terms and conditions may be adjusted from time to time.
3. Exclusivity Agreement [
Employer agrees that for the initial or succeeding term of this Agreement specified in
Section 10, so long as ICMA -RC continues to perform in all material respects the
services to be performed by it under this Agreement, Employer shall not obtain plan
administration from anyone other than ICMA -RC. Employer acknowledges that ICMA -
RC has agreed to the compensation to be paid to ICMA -RC under this Agreement in the
expectation that ICMA -RC will be able to offset costs allocable to performing this
Agreement with revenues arising from Employer's exclusive use of ICMA -RC at the
rates provided herein throughout the initial or succeeding term.
4. Employer Duty to Furnish Information
Employer agrees to furnish to ICMA -RC on a timely basis such information as is
necessary for ICMA -RC to carry out its responsibilities as Administrator of the Plan,
including information needed to allocate individual participant accounts to Funds in the
Trust, and information as to the employment status of participants, and participant ages,
addresses, and other identifying information (including tax identification numbers).
Employer also agrees that it will notify ICMA -RC in a timely manner regarding changes
in staff as it relates to various roles. This is to be completed through the online EZLink
employer contact options. ICMA -RC shall be entitled to rely upon the accuracy of any
information that is furnished to it by a responsible official of the Employer or any
information relating to an individual participant or beneficiary that is furnished by such
participant or beneficiary, and ICMA -RC shall not be responsible for any error arising
from its reliance on such information. ICMA -RC will provide reports, statements and
account information to the Employer through EZLink, the online plan administrative too].
Plan numbers 300934, 106564
Employer is required to send in contributions through EZLink, the online plan
administration tool provided by ICMA -RC. Alternative electronic methods may be
allowed, but must be approved by ICMA -RC for use. Contributions may not be sent
through paper submittal documents.
To the extent Employer selects third -party funds that do not have fund profile
information provided to ICMA -RC through our electronic data feeds from external
sources (such as Morningstar) or third party fund providers, the Employer is responsible
for providing to ICMA -RC timely fund investment updates for disclosure to Plan
participants. Such updates may be provided to ICMA -RC through the Employer's
investment consultant or other designated representative.
Failure to provide timely fund profile update information, including the source of the
information, may result in a lack of fund information for participants, as ICMA -RC will
remove outdated fund profile information from the systems that provide fund information
to Plan participants.
5. Certain Renresentations and Warranties
ICMA -RC represents and warrants to Employer that:
(a) ICMA -RC is a non -profit corporation with full power and authority to
enter into this Agreement and to perform its obligations under this
Agreement. The ability of ICMA -RC to serve as investment adviser to the
Trust is dependent upon the continued willingness of the Trust for ICMA-
RC to serve in that capacity.
(b) ICMA -RC is an investment adviser registered as such with the U.S.
Securities and Exchange Commission under the Investment Advisers Act
of 1940, as amended. ICMA -RC Services, LLC (a wholly owned
subsidiary of ICMA -RC) is registered as a broker - dealer with the U.S.
Securities and Exchange Commission ( "SEC ") and is a member in good
standing with Financial Industry Regulatory Authority ( "FINRA ") and the
Securities Investor Protection Corporation ( "SIPC").
(c)(i) ICMA -RC shall maintain and administer the Plan in compliance with the
requirements for eligible deferred compensation plans under Section 457
of the Internal Revenue Code and other applicable federal law; provided,
however, that ICMA -RC shall not be responsible for the eligible status of
the Plan in the event that the Employer directs ICMA -RC to administer the
Plan or disburse assets in a manner inconsistent with the requirements of
Section 457 or otherwise causes the Plan not to be carried out in
accordance with its terms. Further, in the event that the Employer uses its
own customized plan document, ICMA -RC shall not be responsible for
the eligible status of the Plan to the extent affected by terms in the
Employer's plan document that differ from those in ICMA -RC's standard
plan document. ICMA -RC shall not be responsible for monitoring state or
4
Plan numbers 300934, 106564
local law or for administering the Plan in compliance with local or state
requirements unless Employer notifies ICMA -RC of any such local or
state requirements.
(c)(ii) ICMA -RC shall maintain and administer the Plan in compliance with the
requirements for plans which satisfy the qualification requirements of
Section 401 of the Internal Revenue Code and other applicable federal
law; provided, however, ICMA -RC shall not be responsible for the
qualified status of the Plan in the event that the Employer directs ICMA -
RC to administer the Plan or disburse assets in a manner inconsistent with
the requirements of Section 401 or otherwise causes the Plan not to be
carried out in accordance with its terms; provided, further, that if the plan
document used by the Employer contains terms that differ from the terms
of ICMA -RC's standardized plan document, ICMA -RC shall not be
responsible for the qualified status of the Plan to the extent affected by the
differing terms in the Employer's plan document. ICMA -RC shall not be
responsible for monitoring state or local law or for administering the Plan
in compliance with local or state requirements unless Employer notifies
ICMA -RC of any such local or state requirements.
Employer represents and warrants to ICMA -RC that:
(d) Employer is organized in the form and manner recited in the opening
paragraph of this Agreement with full power and authority to enter into
and perform its obligations under this Agreement and to act for the Plan
and participants in the manner contemplated in this Agreement. Execution,
delivery, and performance of this Agreement will not conflict with any
law, rule, regulation or contract by which the Employer is bound or to
which it is a party.
(e) Employer understands and agrees that ICMA -RC's sole function under
this Agreement is to act as recordkeeper and to provide administrative,
investment or other services at the direction of Plan participants, the
Employer, its agents or designees in accordance with the terms of this
Agreement. Under the terms of this Agreement, ICMA -RC does not
render investment advice, is not the Plan Administrator or Plan Sponsor as
those terms are defined under applicable federal, state, or local law, and
does not provide legal, tax or accounting advice with respect to the
creation, adoption or operation of the Plan and the Trust. ICMA -RC does
not perform any service under this Agreement that might cause ICMA -RC
to be treated as a "fiduciary" of the Plan under applicable law.
(f) Employer acknowledges and agrees that ICMA -RC does not assume any
responsibility with respect to the selection or retention of the Plan's
investment options. Employer shall have exclusive responsibility for the
Plan's investment options, including the selection of the applicable mutual
fund share class. Where applicable, Employer understands that the
Plan numbers 300934, 106564
VantageTrust Retirement Income Advantage Fund is an investment option
for the Plan and that the fund invests in a separate account available
through a group variable annuity contract. By entering into this
Agreement, Employer acknowledges that it has received the Important
Considerations document and the Retirement Investment Guide and that it
has read the information therein concerning the VantageTrust Retirement
Income Advantage Fund.
(g) Employer acknowledges that certain such services to be performed by
ICMA -RC under this Agreement may be performed by an affiliate or
agent of ICMA -RC pursuant to one or more other contractual
arrangements or relationships, and that ICMA -RC reserves the right to
change vendors with which it has contracted to provide services in
connection with this Agreement without prior notice to Employer.
(h) Employer acknowledges that it has received ICMA -RC's Fee Disclosure
Statement, prepared in substantial conformance with ERISA regulations
regarding the disclosure of fees to plan sponsors.
(i) Employer approves the use of its Plan in ICMA -RC external media,
publications and materials. Examples include press releases
announcements and inclusion of the general plan information in request
for proposal responses.
6. Participation in Certain Proceedings
The Employer hereby authorizes ICMA -RC to act as agent, to appear on its behalf, and to
join the Employer as a necessary party in all legal proceedings involving the garnishment
of benefits or the transfer of benefits pursuant to the divorce or separation of participants
in the Plan. Unless Employer notifies ICMA -RC otherwise, Employer consents to the
disbursement by ICMA -RC of benefits that have been garnished or transferred to a
former spouse, current spouse, or child pursuant to a domestic relations order or child
support order.
Compensation and Payment
(a) Plan Administration Fee. The amount to be paid for plan administration
services under this Agreement shall be 0.40% per annum of the amount of
Plan assets invested in the Trust. Such fee shall be computed based on
average daily net Plan assets in the Trust.
(b) Mutual Fund Services Fee. There is an annual charge of 0.15% assessed
against average daily net Plan assets invested in the Trust's non-
proprietary Trust Series funds.
(c) Compensation for Management Services to the Trust, Compensation
for Advisory and other Services to The Vantagepoint Funds and
Plan numbers 300934, 106564
Payments from Third -Party Mutual Funds. Employer acknowledges
that in addition to amounts payable under this Agreement, ICMA -RC
receives fees from the Trust for investment management services
furnished to the Trust. Employer further acknowledges that certain wholly
owned subsidiaries of ICMA -RC receive compensation for advisory and
other services furnished to The Vantagepoint Funds, which serve as the
underlying portfolios of a number of Funds offered through the Trust. For
a Trust fund that invests substantially all of its assets in a third -party
mutual fund not affiliated with ICMA -RC, ICMA -RC or its wholly owned
subsidiary receives payments from the third -party mutual fund families or
their service providers in the form of 12b -1 fees, service fees,
compensation for sub - accounting and other services provided based on
assets in the underlying third -party mutual fund. These fees are described
in the Retirement Investment Guide and ICMA -RC's fee disclosure
statement. In addition, to the extent that third party mutual funds are
included in the investment line -up for the Plan, ICMA -RC receives
administrative fees from its third party mutual fund settlement and
clearing agent for providing administrative and other services based on
assets invested in third party mutual funds; such administrative fees come
from payments made by third party mutual funds to the settlement and
clearing agent.
(d) Redemption Fees. Redemption fees imposed by outside mutual funds in
which Plan assets are invested are collected and paid to the mutual fund by
ICMA -RC. ICMA -RC remits 100% of redemption fees back to the
specific mutual fund to which redemption fees apply. These redemption
fees and the individual mutual fund's policy with respect to redemption
fees are specified in the prospectus for the individual mutual fund and
referenced in the Retirement Investment Guide.
(e) Payment Procedures. All payments to ICMA -RC pursuant to this
Section 7 shall be made from Plan assets held by the Trust or received
from third party mutual funds or their service providers in connection with
Plan assets invested in such third party mutual funds, to the extent not paid
by the Employer. The amount of Plan assets held through the Trust shall
be adjusted by the Trust as required to reflect any such payments as are
made from Plan assets invested in the Trust. In the event that the
Employer agrees to pay amounts owed pursuant to this section 7 directly,
any amounts unpaid and outstanding after 30 days of invoice to the
Employer shall be withdrawn from Plan assets held by the Trust.
The compensation and payment set forth in this section 7 is contingent upon the
Employer's use of ICMA -RC's EZLink system for contribution processing and
submitting contribution funds by ACH or wire transfer on a consistent basis over the
term of this Agreement.
Plan numbers 300934, 106564
8. Contribution Remittance
Employer understands that amounts invested through the Trust are to be remitted directly
to the Trust in accordance with instructions provided to Employer by ICMA -RC and are
not to be remitted to ICMA -RC. In the event that any check or wire transfer is incorrectly
labeled or transferred to ICMA -RC, ICMA -RC may return it to Employer with proper
instructions.
9. Indemnification
ICMA -RC shall not be responsible for any acts or omissions of any person with respect
to the Plan or related Trust, other than ICMA -RC in connection with the administration
or operation of the Plan. Employer shall indemnify ICMA -RC against, and hold ICMA-
RC harmless from, any and all loss, damage, penalty, liability, cost, and expense,
including without limitation, reasonable attorney's fees, that may be incurred by, imposed
upon, or asserted against ICMA -RC by reason of any claim, regulatory proceeding, or
litigation arising from any act done or omitted to be done by any individual or person
with respect to the Plan or related Trust, excepting only any and all loss, damage, penalty,
liability, cost or expense resulting from ICMA -RC's negligence, bad faith, or willful
misconduct.
10. Term
This Agreement shall be in effect and commence on the date all parties have signed and
executed this Agreement ("Inception Date "). The term of this Agreement will commence
on the Inception Date and extend five (5) years from that date. This Agreement will be
renewed automatically for each succeeding year unless written notice of termination is
provided by either party to the other no less than 60 days before the end of such
Agreement year. The Employer understands and agrees that, in the event the Employer
terminates this Agreement (or replaces the VantageTrust PLUS Fund as an investment
option in its investment line -up), ICMA -RC retains full discretion to release Plan assets
invested in the VantageTrust PLUS Fund in an orderly manner over a period of up to 12
months from the date ICMA -RC receives written notification from the Employer that it
has made a final and binding selection of a replacement for ICMA -RC as administrator of
the Plan (or a replacement investment option for the VantageTrust PLUS Fund).
11. Amendments and Adjustments
(a) This Agreement may be amended by written instrument signed by the parties.
(b) ICMA -RC may amend this agreement by providing 60 days' advance written
notice to the Employer prior to the effective date of such proposed amendment.
Such amendment shall become effective unless, within the 60 -day notice period,
the Employer notifies ICMA -RC in writing that it objects to such amendment.
(c) The parties agree that enhancements may be made to administrative and
operations services under this Agreement. The Employer will be notified of
Plan numbers 300934, 106564
enhancements through the Employer Bulletin, quarterly statements, electronic
messages or special mailings. Likewise, if there are any reductions in fees, these
will be announced through the Employer Bulletin, quarterly statement, electronic
or special mailing.
12. Notices
All notices required to be delivered under this Agreement shall be in writing and shall be
delivered, mailed, e- mailed or faxed to the location of the relevant party set forth below
or to such other address or to the attention of such other persons as such party may
hereafter specify by notice to the other party.
ICMA -RC: Legal Department, h
North Capitol Street, N.E., Suite 600,
Facsimile; (202) 962 -4601
;MA Retirement Corporation, 777
Washington, D.C., 20002 -4240
Employer: at the office set forth in the first paragraph hereof, or to any
other address, facsimile number or e-mail address designated by the
Employer to receive the same by written notice similarly given.
Each such notice, request or other communication shall be effective: (i) if given by
facsimile, when transmitted to the applicable facsimile number and there is appropriate
confirmation of receipt; (ii) if given by mail or e -mail, upon transmission to the
designated address with no indication that such address is invalid or incorrect; or (iii) if
given by any other means, when actually delivered at the aforesaid address.
13. Complete Agreement
This Agreement shall constitute the complete and full understanding and sole agreement
between ICMA -RC and Employer relating to the object of this Agreement and correctly
sets forth the complete rights, duties and obligations of each party to the other as of its
date. This Agreement supersedes all written and oral agreements, communications or
negotiations among the parties. Any prior agreements, promises, negotiations or
representations, verbal or otherwise, not expressly set forth in this Agreement are of no
force and effect.
14. Titles
The headings of Sections of this Agreement and the headings for each of the attached
schedules are for convenience only and do not define or limit the contents thereof.
15. Incorporation of Schedules
All Schedules (and any subsequent amendments thereto), attached hereto, and referenced
herein, are hereby incorporated within this Agreement as if set forth fully herein.
Plan numbers 300934, 106564
16. Governine Law
This Agreement shall be governed by and construed in accordance with the laws of the
State of California, applicable to contracts made in that jurisdiction without reference to
its conflicts of laws provisions.
In Witness Whereof, the parties hereto certify that they have read and understand this
Agreement and all Schedules attached hereto and have caused this Agreement to be
executed by their duly authorized officers as of the Inception Date first above written.
CITY OF ROSEMEAD
By Date
Si ature
Name and Title (Plea a Print)
INTERNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
By
An `ela C. Montez
Assistant Corporate Secretary
Please return fully executed contract to: New Business Unit
ICMA -RC
777 North Capitol Street NE
Suite 600
Washington DC 20002 -4240
10
Plan numbers 300934, 106564
Exhibit A
Administrative Services
The administrative services to be performed by ICMA -RC under this Agreement shall be
as follows:
(a) Participant enrollment services, including providing a welcome package and
enrollment kit containing instructions and notices necessary to implement
the Plan's administration. Employees will enroll online or through form.
ICMA -RC will provide an enrollment link through the general ICMA -RC
web site. Plan sponsor will also make available the online enrollment link in
their Intranet site or via email to new employees. Employer can also enroll
employees through EZLink.
(b) Establishment of participant accounts for each employee participating in the
Plan for whom ICMA -RC receives appropriate enrollment instructions.
ICMA -RC is not responsible for determining if such Plan participants are
eligible under the terms of the Plan.
(c) Allocation in accordance with participant directions received in good
order of individual participant accounts to investment funds offered under
the Trust. Participants can complete allocations through Investor Services,
Voice Response System or through Account Access, the secure participant
online system provided by ICMA -RC.
(d) Maintenance of individual accounts for participants reflecting amounts
deferred, income, gain or loss credited, and amounts distributed as
benefits.
(e) Maintenance of records for all participants for whom participant accounts
have been established. These files shall include enrollment instructions
(provided to ICMA -RC through Account Access, EZLink or form),
beneficiary designation instructions and all other documents concerning each
participant's account, and if applicable, records of any transaction conducted
through the Voice Response Unit ( "VRU "), Account Access or other
electronic means.
(1) Provision of periodic reports to the Employer through EZLink.
Participants will have access to account information through Investor
Services, Voice Response System, Account Access and through quarterly
statements that can be delivered electronically through Account Access or
by postal service.
(g) Communication to participants of information regarding their rights and
elections under the Plan.
(h) Making available Investor Services Representatives through a toll -free
telephone number from 8:30 a.m. to 9:00 p.m. Eastern Time, Monday
through Friday (excluding holidays and days on which the securities
11
Plan numbers 300934, 106564
markets or ICMA -RC are closed for business (including emergency
closings), to assist participants.
(i) Making available a toll -free number and access to VantageLine, ICMA-
RC's interactive VRU, and ICMA -RC's web site, to allow participants to
access certain account information and initiate plan transactions at any
time. Account access and VantageLine are normally available 24 hours a
day, seven days a week except during scheduled maintenance
periods designed to ensure high- quality performance. The scheduled
maintenance window is outlined at https : / /hgMerl.icmarc.org/loain.isp
(j) Distribution of benefits as agent for the Employer in accordance with
terms of the Plan. Participants who have separated from service can
request distributions through Account Access or via form.
(k) Upon approval by the Employer that a domestic relations order is an
acceptable qualified domestic relations order under the terms of the Plan,
ICMA -RC will establish a separate account record for the alternate payee
and provide for the investment and distribution of assets held thereunder.
(1) Loans may be made available on the terms specified in the Loan Guidelines,
if loans are adopted by the Employer. Participants can request loans through
Investor Services or Account Access.
(m) Guided Pathways — Participant Advice and Guidance may be made
available through a third party vendor on the terms specified on ICMA-
RC's website.
(n) ICMA -RC will determine appropriate delivery method (electronic and /or
print) for plan sponsor /participant communications and education based on
a number of factors (audience, effectiveness„ etc.)
12
ROSEMEAD CITY COUNCIL
STAFF REPORT
TO: THE HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: JEFF ALLRED, CITY MANAGER
DATE: OCTOBER 8, 2014
SUBJECT: CONTRACT EXTENSION WITH INTERNATIONAL CITY
MANAGEMENT ASSOCIATION RETIREMENT CORPORATION (ICMA -
RC) TO PROVIDE DEFERRED COMPENSATION PROGAM SERVICES
SUMMARY
The City Council will consider an action to extend the agreement with the City's existing
deferred compensation program provider.
Staff Recommendation
It is recommended that the City Council authorize the City Manager to execute a five (5) year
contract extension with ICMA -RC.
BACKGROUND
The City Council established a deferred compensation plan with International City Management
Association Retirement Corporation (ICMA -RC) on November 27, 1979 to provide deferred
compensation program services. The agreement signed in 1979 is auto - renewing and is very
common for this type of agreement to renew indefinitely. In accordance with the current
agreement, the City and ICMA -RC may mutually agree to extend the term of this agreement and
staff has negotiated a five -year extension to the agreement with cost savings and
enhancements.
Over the past 34 years, ICMA -RC has provided a range of services to the City for the operation
of employee retirement plans including, but not limited to, communications concerning
investment alternatives, account maintenance, account recordkeeping, investment and tax
reporting, transaction processing, benefit disbursement, and asset management.
In order to ensure that a high standard of service is maintained, staff has worked with ICMA -RC
to negotiate the following:
Five -year term extension
Reduced plan administration fee by 15 basis points (0.40% per annum of the amount of
plan assets)
Newly assigned field representative to provide personalized service
ITEM NUMBER: _L[F_,
City Council Meeting
October 8, 2014
Page 2 of 2
With the new five year term, the annual cost savings in lowered investment expenses are
estimated to be $4,700. In addition, in order to enhance customer service, a local field
representative has been assigned to the City to provide personalized customer service. The
local field representative will be available, on a quarterly basis, to sit down and meet with the
employees to answer questions, review individual portfolios and provide guidance in retirement
planning.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
FISCAL IMPACT:
Funding has been included in the 2013 -2014 City Budget to fully fund this item.
�. • .
�,�
Su Tan
Human Resources Manager
Attachment: Extension of Agreement
icmA-RC
Building Retirement Security
NOTICE OF PLAN ACCEPTANCE
May 19, 2008
Matt Hawkesworth
8838 E. Valley Road
Rosemead, CA 91770
RE: City of Rosemead
ICMA RC Account Number # 106564
401(A) Profit Sharing Plan
Dear Mr. Hawkesworth:
This letter is to inform you that ICMA RC has formally accepted the City of Rosemead.
At this time, eligible employees may begin enrolling and contributing to the plan. Each
employee who enrolls in the plan will be identified by the employer account number
listed above and their Social Security Number.
Please refer to "Making Sound Investment Decisions ", the ICMA RC Retirement
Investment Guide for information about your plan's funds and your role as a member of
the VantageTrust Company Trust. If you have questions, please contact our Employer
Services staff at 1- 800 - 326 -7272.
Sincerely,
Phil Outlaw
New Business Unit Analyst
Vantagchoint securities arc disu'ibutcd by ICMA -RC Services, LLC, a broker - dealer affiiliate of ICMA -RC, member NASD /SI PC.
9 0
ICMA RETIREMENT CORPORATION
GOVERNMENTAL PROFIT - SHARING PLAN & TRUST
ADOPTION AGREEMENT
The Employer hereby establishes a Profit- Sharing Plan and Trust to be known as
—City of Rosemead 401 Plan -- -- (the "Plan ") in the form of the ICMA
Retirement Corporation Governmental Profit- Sharing Plan and Trust (PSP 01/01/06).
This Plan is an amendment and restatement of an existing defined contribution profit- sharing plan.
Yes
% No
If yes, please specify the name of the defined contribution profit - sharing plan which this Plan hereby amends and
restates:
[9061
Employer: — City of Rosemead
- - - - - -- - - -- [902]
II. The Effective Date of the Plan shall be the first day of the Plan Year during which the Employer adopts the
Plan, unless an alternate Effective Date is hereby specified: April 1, 2008 (e.g., January 1, 2006
for the PSP 01/01/06 Plan)
III. Plan Year will mean:
( ) The twelve (12) consecutive month period which coincides with the limitation year. (See Section
5.05(h) of the Plan.)
X) The twelve (12) consecutive month period commencing on Apra land each anniversary thereof.
IV. Normal Retirement Age shall be age 55 (not to exceed age 65). [2881
V. ELIGIBILITY REQUIREMENTS: .
The following group or groups of Employees are eligible to participate in the Plan:
_ All Employees
% All Full -Time Employees
Salaried Employees •R q�lt 2003
AY Non -union Employees i1,
Management Employees
____ Public Safety Employees
General Employees
Other (specify below)
The group specified must correspond to a group of the same designation that is defined in the statutes,
ordinances, rules, regulations, personnel manuals or other material in effect in the state or locality of
the Employer.
2. - The Employer hereby waives or reduces the requirement of a twelve (12) month Period of Service for
participation. The required Period of Service shall be N/A (write N/A if an Employee is
eligible to participate upon employment).
PSP Adoption Agreement 1/30/2006
8, 0
rate of Employer contributions, but a Participant may decline to make the required Participant
contributions in any Plan Year, in which case no Employer contribution will be made on the
Participant's behalf in that Plan Year.
( ) Variable Employer Match Of Voluntary Participant Contributions.
The Employer shall contribute on behalf of each Participant an amount determined as follows
(subject to the limitations of Article V of the Plan):
% of the Voluntary Participant Contributions made by the Participant for the Plan Year
(not including Participant contributions exceeding % of Earnings or $ );
PLUS %ofthe contributions made by the Participant for the Plan Year in excess of those
included in the above paragraph (but not including Voluntary Participant Contributions
exceeding in the aggregate ___% of Earnings or
Employer Matching Contributions on behalf of a Participant for a Plan Year shall not exceed
$ or % of Earnings, whichever is _ more of _ less.
2. Each Participant may make a voluntary (unmatched), after -tax contribution, subject to the limitations of
Section 4.06 and Article V of the Plan.
Yes A No
3. Employer contributions shall be contributed to the Trust in accordance with the following payment
schedule:
Participant contributions shall be contributed to the Trust in accordance with the following payment
schedule:
N/A
VII. CASH OR DEFERRED ARRANGEMENT UNDER SECTION 401(k)
This Plan will be a cash or deferred arrangement under section 401(k) of the Code.2
Yes No [7111
Each Participant may elect to make Elective Deferrals, not to exceed __ % of Earnings for the Plan
Year, subject to the limitations of Article V of the Plan.
The provisions of the Cash or Deferred Arrangement (CODA) may be made effective as of the first day
of the Plan Year in which the CODA is adopted. However, under no circumstances may a salary
reduction agreement or other deferral mechanism be adopted retroactively.
' Under current law, the cash or deferred arrangement (CODA) option under section 401(k) of the Code is not available to an
employer that is a State or local government or political subdivision thereof, or any agency or instrumentality thereof, unless
that employer established a CODA on or before May 6, 1986.
PSP Adoption Agreement 1/30/2006
IX.
X.
XI.
CJ
(c) Other
The Employer will permit rollover contributions in accordance with Section 4.10 of the Plan.
X Yes No
LIMITATION ON ALLOCATIONS
If the Employer maintains or ever maintained another qualified plan in which any Participant in this Plan is (or was)
a participant or could possibly become a participant, the Employer hereby agrees to limit contributions to all such plans
as provided herein, if necessary in order to avoid excess contributions (as described in Section 5.04 of the Plan).
1. If the Participant is covered under another qualified defined contribution plan maintained by the Employer, the
provisions of Section 5.04(a) through (f) of the Plan will apply, unless another method has been indicated
below. ,
( ) Other Method. (Provide the method under which the plans will limit total Annual Additions to the
Maximum Permissible Amount, and will properly reduce any excess amounts, in a manner that precludes
Employer discretion.) .
2. The limitation year is the following 12- consecutive month period:
VESTING PROVISIONS
The Employer hereby specifies the following vesting schedule, subject to (I) the minimum vesting requirements and (2)
the concurrence of the Plan Administrator.
Years of
Service
Percent
Completed
Vested
Zero
_100%
One
_100_ %
Two
100_ %
Three
100_ %
Four
100 %
Five
106-%
Six
100_
Seven
100
Eight
100_
Nine
100 a/o
Ten
100
[234 -2391 ✓
5 PSP Adoption Agreement 1/30/2006
s
XVI. The Employer hereby appoints the ICMA Retirement Corporation as the Plan Administrator pursuant to the terms
and conditions of the ICMA RETIREMENT CORPORATION GOVERNMENTAL PROFIT - SHARING PLAN
& TRUST.
The Employer hereby agrees to the provisions of the Plan and Trust.
XVII. The Employer hereby acknowledges it understands that failure to properly fill out this Adoption Agreement may result
in disqualification of the Plan.
XVIII. An adopting Employer may rely on an advisory letter issued by the Internal Revenue Service as evidence that the Plan
is qualified under section 401 of the Internal Revenue Code to the extent provided in applicable IRS
revenue procedures and other official guidance.
In Witness Whereof, the Employer hereby causes this Agreement to be executed on this 25thday of
March , 200 8
EMPLOYER
Tide: City Manager
Attest:
ICMA RETIREMENT CORPORATION
777 North Capitol St., NE
Washington, DC 20002 -4240
PSP Adoption Agreement 1/30/2006
January 22, 1998
DON WAGNER
ASST. CITY MANAGER
CITY OF ROSEMEAD
8838 EAST VALLEY BOULEVARD
ROSEMEAD, CA 917701714
RE: Plan number: 300934
Dear Mr. WAGNER:
777 North Capital Street, NE
Washington, DC 20002 -4240
1- 202 -962 -4600
FAX 1- 202 -962 -4601
Toll Free 1- 800-669 -7400
Internet: http: / /www. icmarc.org
This letter is being sent to you regarding the 457 law changes which became effective January 1,
1997.
Two of the major changes to 457 plans included the establishment of a trust and the option of
allowing loans. Subsequently, the Retirement Corporation revised our Deferred Compensation
Plan Document.
On November 1, 1996, the Retirement Corporation provided the CITY OF ROSEMEAD
with our revised plan document. The November 1, correspondence stated "Under the provisions
of RC's prior 457 plan document, the amendments contained in the revised plan document are
deemed to be adopted by you unless you notify us within 30 days of the date this plan
amendment package was mailed. In this situation, the changes are considered implemented
automatically and employers do not need to take any action."
Plans which were "deemed adopted" do not allow loans. However, plans may be amended at a
later date to permit loans.
Since,the CITY OF ROSEMEAD did not respond to the November 1, mailing, your plan has
been deemed adopted ".
If you have further concerns, please contact our Employer Services staff at (800)326 -7272.
Sincerely,
Dwight M. McMakin
Direct Marketing Representative
cc: Ken Gromacki, Vice President
Harold Long, Supervisor
Marketing Division
ICMA RETIREMENT CORPORATION
The public service Vantager int since 1972
ICMA -RC Services, Inc. is a wholly awned broker- dealer subsidiary of the ICMA Retirement Corporation. Member NASD and SIPC.
• MA
RETIREMENT
CORPORATION
Coro Orate Readouarters
Suite 600
777 tdorin Cao"ol Street. NE
October 1 1993 avasaing;on. DC 20002 -4240
> (202) 962 -4600
Toll -Free WO) 669 -7400
Don Wagner
City of Rosemead RECEIVED
8838 East Valley Boulevard CITY iiF RQSFMEAD
Rosemead, California 91770 -1714
RE: 0934 ,�OV 2 - 1993
Dear Don Wagner:
Cirii CLERK'S OFF GE
At the beginning of our relationship, the ICMA Retirement Corporation ( "RC ")
and the City of Rosemead entered into an agreement entitled "Trust Agreement
with the ICMA Retirement Corporation" (also known as Appendix C) with the
Retirement Corporation. That agreement onlyy refers in a very general way to
the administratove services to be provided by RC and the fees to be paid for-
those services, and it does not provide an accurate portrayal of our current
relationship.
To illustrate, the ICMA Retirement Trust currently consists of $2.4 billion in
total assets, and that figure represents the pooled monies of approximately
145,000 local government employees. This is a significant increase over the
$459,000 managed by RC for 285 participants in 1972. With the growth of the
Retirement Trust, the services RC provides for administration of your deferred
compensation plan have also grown. The administrative services we now provide
include:
* Educating and enrolling participants;
* Maintaining employer accounts and employee subaccounts, and associated
records;
• Crediting employer contributions to employee accounts;
• Reporting investment activity and account informi i.on to the employers
and employees on a quarterly. basis;
* Providing information about various features of deferred compensation
plans on a regular basis;
* Paying benefits and handling related tax reporting,
Consequently, the "Trust Agreement" we initially entered into does not
describe the services RC provides in sufficient detail.
t
As a result, we have prepared a new Administrative Services Agreement, two
copies of which have been signed by RC and enclosed. We believe the
ICN1A -RC Services, Inc.
I: �err.Der NASt7 and SIPC. is a wno!ly o'wneo btol eFdealer subsidiary o! Ine ICNIA Retirement Corporation
0
E
Administrative Services Agreement provides a more accurate and up -to -date
description of the existing relationship between you and RC.
We propose that the City of Rosemead and RC enter into the Administrative
Services Agreement to replace the "Trust Agreement with the ICMA Retirement
Corporation ". Upon your acceptance of the Administrative Services
Agreement, that substitution will occur.
The Administrative Services Agreement is not intended to affect in any way the
investments of your deferred compensation plan or the benefits payable under
the plan. Nor is it intended to change in any way the services actually
provided by RC, or the fees actually charged by RC with respect to the
administration of the plan.
Please sign each of the enclosed copies of the Agreement. Return one copy to
RC using the enclosed return envelope, and keep one copy for your records.
If we do not hear from you, and RC does not receive a signed Agreement within
90 calendar days of your receipt of this letter, and the Trust continues to
receive plan contributions, RC will interpret those actions as acceptance of
the terms of the Agreement after the expiration of the 90 -day period.
If you have any questions regarding the Administrative
please call Chris Baker of our Client Services division
call my Legal Assistant, Jan Feldman, at (202)962 -4677.
Sincerely,
Michael Schaef , Esq.
House Counsel
Enclosures:
Administrative Services Agreement (2 copies)
Return Envelope
Services Agreement,
at (202) 962 -8076, or
L
• 1011k
RETIREMENT
CORPORATION
ADMINISTRATIVE SERVICES AGREEMENT
Type: 457
Account Number: 0934
• • ICNIA
RETIREMENT
CORPORATION
Plan # 0934
ADMINISTRATIVE SERVICES AGREEMENT
This Agreement, made as of the day of
199 ,(herein referred to as the "Inception Date "), between The International
City Management Association Retirement Corporation (("RC "), a nonprofit
corporation organized and existing under the laws of the State of Delaware;
and the City of Rosemead ( "Employer "), a(n) City organized and existing under
the laws of the State of California with an office at 8838 East Valley
Boulevard,Rosemead, California, 91770 -1714.
Recitals
Employer acts as a public plan sponsor for a retirement plan
( "Plan ") with responsibility to obtain investment alternatives and services
for employees participating in that`Plan;
The ICMA Retirement Trust (the "Trust ") is a common law trust
governed by an elected Board of Trustees for the commingled investment of
retirement funds held by state and local governmental units for their
employees;
RC acts as investment adviser to the Trust; RC has designed,
and the Trust offers, a series of separate funds (the "Funds ") for the
investment of plan assets as referenced in the Trust principal disclosure
document, "Making Sound Investment Decisions: A Retirement Investment Guide ".
The Funds are available only to public employers and only through the Trust.
In addition to serving as investment adviser to the Trust, RC
provides a complete offering of services to public employers for the operation
of employee retirement plans including, but not limited to, communications
concerning investment alternatives, account maintenance, account record -
keeping, investment and tax reporting, form processing, benefit disbursement
and asset management.
- 2 -
0 0
Plan # 0934
Agreements
1. Appointment of RC
ICNIA
RETIREMENT
CORPORATION
Employer hereby designates RC as Administrator of the Plan to
perform all non - discretionary functions necessary for the administration of
the Plan with respect to assets in the Plan deposited with the Trust. The
functions to be performed by RC include:.
(a) allocation in accordance with participant direction of
individual accounts to investment Funds offered by the Trust;
(b) maintenance of individual accounts for participants
reflecting amounts deferred, income, gain, or loss credited, and amounts
disbursed as benefits;
(c) provision of periodic reports to the Employer and
participants of the status of Plan investments and individual accounts;
(d) communication to participants of information regarding
their rights and elections under the Plan; and
(e) disbursement of benefits as agent for the Employer in
accordance with terms of the Plan.
2. Replacement of Employer Trust
RC and Employer are parties to a Trust A reement entitled
"Trust Agreement with the ICMA Retirement Corporation" the "Employer Trust ")
for the administration of the Plan. The Employer hereby terminates the
Employer Trust (not the Declaration of Trust of ICMA Retirement Trust)
intending that this Administrative Services Agreement evidence the
understandings between RC and the Employer with respect to the matters covered
by it. Employer continues to be a party to the Declaration of Trust of the
ICMA Retirement Trust and agrees that operation of the Plan and investment,
management and disbursement of amounts deposited in the Trust shall be subject
to the Declaration of Trust, as it may be amended from time to time and shall
also be subject to terms and conditions set forth in disclosure documents
(such as the Retirement Investment Guide or Employer Bulletins) as those terms
and conditions may be adjusted from time to time.
3.
information as
Administrator
Employer Duty to Furnish Information
Employer agrees to furnish to RC
is necessary for RC to carry out
of the Plan, including information
3-
on a timely basis such
its responsibilities as
needed to allocate individual
• • ICNIA
RETIREMENT
CORPORATION
Plan # 0934
participant accounts to Funds in the Trust, and information as to the
employment status of participants, and participant ages, addresses and other
identifying information (including tax identification numbers). RC shall be
entitled to rely upon the accuracy of any information that is furnished to it
by a responsible official of the Employer or any information relating to an
individual participant or beneficiary that is furnished by such participant or
beneficiary, and RC shall not be responsible for any error arising from its
reliance on such information. If within ninety (90) days after the mailing of
any report, statement or accounting to the Employer or a participant, the
Employer or participant has not notified RC in writing of any error or
objection, such report, statement, or accounting shall be deemed to have been
accepted by the Employer and the participants.
4. Certain Representations, Warranties, and Covenants
RC represents and warrants to Employer that:
(a) RC is a non - profit corporation with full power and
authority to enter into this Agreement and to perform its obligations under
this Agreement. The ability of RC to serve as investment adviser to the Trust
is dependent upon the continued willingness of the Trust for RC to serve in
that capacity.
�b) RC is an investment adviser registered as such with the
Securities and xchange Commission under the Investment Advisers Act of 1940,
as amended. ICMA- RC Services, Inc. (a wholly owned subsidiary of RC) is
registered as a broker - dealer with the Securities and Exchange Commission
(SEC) and is a member in good standing of the National Association of
Securities Dealers, Inc.
RC covenants with employer that:
(c) RC shall maintain and administer the Plan in compliance
with the requirements for eligible deferred compensation plans under Section
457 of the Internal Revenue Code; provided, however, RC shall not be
responsible for the eligible status of the Plan in the event that the Employer
directs RC to administer the Plan or disburse assets in a manner inconsistent
with the requirements of Section 457 or otherwise causes the Plan not to be
carried out in accordance with its terms; provided, further, that if the plan
document used by the Employer contains terms that differ from the terms of
RC's standardized plan document, RC shall not be responsible for the eligible
status of the Plan to the extent affected by the differing terms in the
Employer's plan document.
Employer represents and warrants to RC that:
(d) Employer is organized in the form and manner recited in
the opening paragraph of this Agreement with full power and authority to enter
into and perform its obligations under this Agreement and to act for the Plan
- 4 -
ICDIA
RETIREMENT
CORPORATION
Plan # 0934
and participants in the manner contemplated in this Agreement. Execution,
delivery, and performance of this Agreement will not conflict with any law,
rule, regulation or contract by which the Employer is bound or to which it is
a party.
5. Participation in Certain Proceedings
The Employer hereby authorizes RC to act as agent, to appear on
its behalf, and to join the Employer as a necessary party in all legal
proceedings involving the garnishment of benefits or the transfer of benefits
pursuant to the divorce or separation of participants in.the.Employer Plan.
The Employer consents to the disbursement by RC of benefits that have been
garnished or transferred to a former spouse, spouse or child pursuant to a
domestic relations order.
6. Compensation and Payment
(a) Plan Administration Fee. The amount to be paid for plan
administration services under this Agreement shall be 0.9% er annum of the
amount of Plan assets invested in the Trust. Such fee shall be computed and
paid at the end of each month on plan assets in the Trust at that time.
(b) Account Maintenance Fee. There shall be an annual account
maintenance fee of $18.00. The account maintenance fee is payable in full on
January 1 of each year on each account in existence on that date. For
accounts established after January 1, the fee is payable on the first day of
the calendar quarter following establishment and is prorated by reference to
the number of calendar quarters remaining on the day of payment.
(c) Compensation for Advisory Services to the Trust. Employer
acknowledges that in addition to amounts payable under this Agreement, RC
receives fees from the Trust for investment advisory services furnished to the
Trust.
(d) Payment Procedures. All paygents to RC pursuant to this
Section 6 shall be paid out of the Plan Assets held by the Trust and shall be
paid by the Trust. The amount of Plan Assets held in the Trust shall be
adjusted by the Trust as required to reflect such payments.
7.
Custody
Employer understands that amounts invested in the Trust are to
be remitted directly to the Trust in accordance with instructions provided to
Employer by RC and are not to be remitted to RC. In the event that any check
or wire transfer is incorrectly labelled or transferred to RC, RC is
authorized, acting on behalf of the transferor, to transfer such check or wire
transfer to the Trust.
- 5 -
3
• • ICMA
RETIREMENT
CORPORATION
Responsibility
Plan # 0934
RC shall not be responsible for any acts or omissions of any
person other than RC in connection with the administration or operation of the
Plan.
a
Term
This Agreement may be terminated without penalty by either
party on sixty days advance notice in writing to the other.
10. Amendments and Adjustments
(a) This Agreement may not be amended except by written
instrument signed by the parties.
(b) The parties agree that compensation for services under
this Agreement and administrative and operational arrangements may be
adjusted as follows:
RC may propose an adjustment by written notice to the Employer
given at least 60 days before the effective date of the adjustment and the
notice may appear in disclosure documents such as Employer Bulletins and the
Retirement Investment Guide. Such adjustment shall become effective unless,
within the 60 day period before the effective date the Employer notifies RC in
writing that it does not accept such adjustment, in which event RC shall be
under no obligation to provide services under this Agreement.
(c) No failure to exercise and no delay in exercising any
right, remedy, power or privilege hereunder shall operate as a waiver of such
right, remedy, power or privilege.
11. Notices
All notices required to be delivered under this Agreement shall
be delivered personally or by registered or certified mail, postage prepaid,
return receipt requested, to (i) RC at 777 North Capitol Street, N.E., Suite
600, Washington, D.C, 20002 -4240; (ii) Employer at the office set forth in
the first paragraph hereof, or to any other address designated by the party to
receive the same by written notice similarly given.
12. Complete Agreement
This Agreement shall constitute the sole agreement between RC
and Employer relating to the object of this Agreement and correctly sets forth
the complete rights, duties and obligations of each party to the other as of
its date. Any prior agreements, promises, negotiations or representations,
verbal or otherwise, not expressly set forth in this Agreement are of no force
�d�
Plan # 0934
and effect.
13. Governing Law
This agreement shall be governed by and construed in accordance
with the laws of the State of California applicable to contracts made in that
jurisdiction without reference to its conflicts of laws provisions.
In Witness Whereof, the parties hereto have executed this
Agreement as of the inception Date first above written.
CITY OF ROSEMEAD
byS„1 // /iP '/s
i na re
!"AR,A�/��� / /i
MTvwase Print
INTERNATIONAL CITY MANAGEMENT
ASSOC4�TION RETIREMENT CORPORATION
stepnan WM. or o a e
Corporate Secretary
- 7 -
RETIREMENT
CORPORATION
Plan # 0934
and effect.
13. Governing Law
This agreement shall be governed by and construed in accordance
with the laws of the State of California applicable to contracts made in that
jurisdiction without reference to its conflicts of laws provisions.
In Witness Whereof, the parties hereto have executed this
Agreement as of the inception Date first above written.
CITY OF ROSEMEAD
byS„1 // /iP '/s
i na re
!"AR,A�/��� / /i
MTvwase Print
INTERNATIONAL CITY MANAGEMENT
ASSOC4�TION RETIREMENT CORPORATION
stepnan WM. or o a e
Corporate Secretary
- 7 -
• 0
RESOLUTION NO. 88 -58
A RESOLUTION OF THE CITY OF ROSEMEAD
FOR A LEGISLATIVE BODY
RELATING TO A DEFERRED COMPENSATION PLAN
WHEREAS, the City of Rosemead has employees rendering valuable
services; and
WHEREAS, the establishment of a deferred compensation plan for
such employees serves the interests of the City of Rosemead by
enabling it to.provide reasonable retirement security for its
employees, by providing increased flexibility in its personnel
management system, and by assisting in the attraction and retention
of competent personnel; and
WHEREAS, the City of Rosemead has determined that the
establishment of a deferred compensation plan to be administered by
the ICMA Retirement Corporation serves the above objectives; and
WHEREAS, the City of Rosemead desires that the investment of
funds held under its deferred compensation plan be administered by
the ICMA Retirement Corporation, and that such funds be held by the
ICMA Retirement Trust, a trust established by public employers for
the collective investment of funds held under their deferred
compensation plans and money purchase retirement plans;
NOW, THEREFORE BE IT RESOLVED, that the City of Rosemead hereby
adopts the deferred compensation plans attached hereto and appoints
the ICMA Retirement Corporation to serve.as Administrator thereunder;
and
BE IT FURTHER RESOLVED, that the City of Rosemead hereby
executes the Declaration of Trust of the ICMA Retirement Trust,
attached hereto as Appendix B.
BE IT FURTHER RESOLVED, that the City Manager shall be the
coordinator for this program and shall receive necessary reports,
notices, etc., from the ICMA Retirement Corporation or the ICMA
Retirement Trust; and shall cast, on behalf of the Employer, any
required votes under the program. Alministrative duties to carry out
the plan may be assigned to the appropriate departments.
PASSED, APPROVED; -AND ADOPTED this 13th day of D i cembe , 1988.
. . - 1 I d 7
ATTEST:
CITY CLERK
0 a AMh'LlIVIA n
DECLARATION OF TRUST
OF
ICMA RETIREMENT TRUST
ARTICLE I. NAME AND DEFINTIONS
Secton 1.1 Names: The Name of the Trust, as rronded and mmated hereby.
s the KWA RNirernert Tinsel.
Section 1.2 De11NIbna: Whhemw they are used herein. the fodoweg bums
ehea hays the lisAwng reSQeWye mGlimrgs:
(a) By-laws The By -Laws miferred to in Section 41 herad, as amended from
time b tens.
(b) Oabned Companalbon Plan. A defend CMVW60M plan established
and miarmned by a Pubic Employer for the purpose of providing mbrw
mare W=nb and other deterred benefits; to as employees in accordance
with the provisions of section 457 of ams Internal Revenue Code of 1954,
as amended_
(c) Employees. Those employees who PaAC2Pme in Ouaified Pore.
(d) Employer Truro. A trust created pursuant to an sgreenem belwaan RC
and a Pubic Employer for to purpose of investing and edm mstenng the
funds set ride by such Employer in connection wet as Deferred Canpen -
foom apteerrem wan as employees a in connection with as OuW obi Ran.
(e) Guaranteed imemmera Contract. A contract entered into by the Reire-
ment Trust with inw2Ke companies met provides lor a guaranteed rate
d return on irmemneres made pursuant to such contract.
(Ty ICMA. The Im"gewa City Manganese Aesomeliorh.
(g) ICmAIRC Surises Those Trustees elected by the Public Employers who.
in accordance wet the pa store of Section 31(s) hared, are also mrry
bars bi the Board of drectn of ICMA or RC.
(h) lmesbnent Advser The lrwesbMre Adviser that emem imD a Contract
wan the fMtinarem Trust to provide advice yin mspea to iruahtrnem of
the Lust Property.
n Panloios. The Por"okm of irwe4+reras established by the buaamere
Adviser so to Retramem Sum. under the arperw m of Ins Suecee& b
to puupoes of providing imemrnets for the Trust Property.
0 Pudic Employee Trustees Those Sumees aecbd by the Pubic Employers
who n accordance with tte pimsiwha or Section 3.1(a) homed. am full-rm
anpiyms of Public Empiciem
() Pubic Employer Trustees. Pudic Emdoyas who sere as tivases d
the Oueifed Ten.
M PhAie Employer. A unit of Me or local govam ert, or any agency or
itarvrersa4ly therred, ton has adopted a Deferred Compensmam Plan or
a Ou~ Ran and has computed On OederNdn of Thee.
(it) QtmKwd Plan. A plan sponsored by s Pubic Employer lor to purpose
all pro ndin9. raimnem income to b amployms which setihdas the Queers-
arm squrree a of Section 401 of the Williams! Retmte Cott es
(m RC The Itsereetonal Cry Manager ertt Association Reform t Corpo
moon.
(o) Return Trtrst. The lust c mW M tis Dad nsion d Trued.
(p) Lori Property. The anteuro held in to Rethemsrs Trust an lashes of to Pubic
Employers in correction with Deferred Compensation Plans end on banes of to
Pubic Employer Truman for the mclusne beneal of Employees pursuers to Oueb
Sod Plana The Oust Property NNI include any income maltirg from to onem-
meyt of the arrhwyras so hdd.
(q) Summa The Pubfrc Employee Trustees; and hCMNRC VWAN elected by the
Pubic Employers to says a members of the Board d Luaus of the Retirement
Tnw.
ARTICLE B. CREATION AND PURPOSE OF THE TRUST; OWNERSHIP
OF TRUST PROPERTY
Section 2.1 Creation: The Rebrernat Suri is created and ariaUrs ed by
the macution of this Declaration d Trust by the Trhmees and the Public
Employers
Section 2.2 Purpose. The purpose of the Retimmem Los s to provide for
the cwrimingled invemnam of funds held by the Pudic Employers in coruec-
don with their Deferred Cortrpernmion and OUNAW Rants. The Sum Prop
arty Nita be irhvrmad in the Portbios, in Guaranteed Imestmet Contracts,
and in other imasurnena rebomrnended by the imestrnere Adviser udder the
aperv®m d the Board d luismes No pert d the S1rst Property wil be ireemed
in sawmies seed by Pubic Employers'
Section 2.2 Ownership of Rust Property: The ►uriees Nst hoe legal
title to ae Sum Property. The Pubic Employers shed be the beneficial owners
of the portion d the Lust Property atocade to the Deferred Compernmarm
Plan. The portion of the Lust Property allocable to the Oualired Pons Nero
be hod for the Pudic Empiyw Trustees for the a iclueye bereft of the
Employees
ARTICLE BI. TRUSTEES
Sectlen 7.1 Number and OuNHleatlon of Tn-
(a) The Board d Trustees dW Cdra; 1 of nine Trustees. Fite of the Trustees
" be Wffne amployses of a Pubic Employer ithe Putac Employee
Trustees) who we sua onzed by such Pudic Employer to serve as Trustee.
The remaining four Trustees War cwleiei of two g rsaa who. a are trims of
election to the Board of Trustees, are munitions dare Board of Directors of
ICMA and two parson who, a are We d-'scion. we rt0 d dams Bard
d Di ectoa d RC (are ICfriAIRC Trtesees). One d the Tnrama w1ro s a daado
of aCMA. and one d to Trustees who is a hlhraddl be RC, shat. a this nee
of election, be Mims Nrhployses of a Phrdt Employer.
(b) IYo person may serve es a Truant la rows Iten one tree n any tenyev
period.
Section 2.2 Election and Tans.
(a) Etcept for to Sh dm appointed b M vacancies pwsuart b Section 35
hand, me Trustees Nett be Netted by a vote of a ffiff" of the Pubic
Employers in accordance with to procedures; sit bush in tee BrLawa
(b) At h the eta son of V.Mn awes a " be dscftd for a Mm
d ttvss y&M awes Tfuste" shall be amecfad for a Mm of two years and three
luctees ahes be 610300 b a Win of one year At each slbsspue" aNI .
Woo lust-:es oleo be olacled for a farm of tine years and urn net or her
successor a sacred and qualified.
Section 3.3 NonWatforr: The lwmes who we full-tirre arployses a RMc
Enhployers shell sava a the Norneecrp Conno a Mae PgnOee Emmpoyca
lums The Nol No Cammaee do onoox onddabt for Pubs Enmpoyaa
lmabaa in accordance with the pacadums M bnh in the Bylaw
faction 3.4 mosvtatlon and Rotating.
W Any ThrM they MNW a Tnabe (wihaa need M prior or artaaaan
moeainero by an imarunas in wrLnG epned by to fuses and dakvwed
b the Wo lusbes and ash sop a" shall be affective upon rtdh deliver,
or at a Ira dab arxording to the tern of the natummnl. Any of the iuslaes
may be marmc, M dam, by a hAM of a rnaprey of the Pubic Enpoyera
04 Eiden Pmtlic Englbyse lwee shall magn he or her position as lusts@
warm abdy days dh dale on whit he a ale Data b bet a f Fame,Toby@@
d a Puot"s Ean~
Section u lacencles: The term d once d a luwe then bmentb and
a %a carry oleo coeur in the wan of the death. magrabon. taro 1, sdjud:
COW CO PM, ce of oaer incapstory to pm long the duties d h dike of
a lumi in h ease of a vacancy. h ranaimV Trusem aha appoint such
panm a fMy n him diacratim !WI fee k (s ib)ed b h lineal m M brth
in the Section). to Mae for the uresprsd portion of the With all this Trustee
who no reigned or ohntmv ceased b be a Trustee The spool. di a oleo
be node by a carmen insruren signed by a najorey of the Trustees The par-
son apparYd must be the care type d Truax (a. Public Employee Tna
be or ICMAIRC lumee) as to person who has ceased to be a luose M
appointment of a lhmee may be made in anticipation of a vecA cy b ocean
at a Ira dab by mason of raererrw or m agnm n. provided OW such appow
mat shit net becorne - , we prior to rot rahra+ot or respnauon, fyhsn
war a vacacy in this number of Trustees can occur, until such vacency a
IoW as provided in cis Section W& the Trustees n dace, repardess of their
nenfer . age hem M h pavers granted to the Trustess and "I disdhampe
a the dub" n po.ed upon the liustees by Via Declaration. A wrmen inan k
men oviefyinp h vuslen e of Koch vacancy signed by a mapny of the
Trustees ttae be corhduKve evidence of h sumence of such vacancy.
Section 2.6 Trustees Serve In Representalfw Capacity: By aacueng
acs Ded: ram. each Rmbbe Erpgs agrees that the Public ErtWbnee Sues
eteaed by h Public Erpgas we audho and b ad as apes and Whelan,
movies of the Pubhe Empbyers meeWvely
ARTICLE W POWERS OF TRUSTEES
Section 4.1 General Ponces: The Threes age have We power to e oxW
h bArheda Of h lug and b eamry m m cpernaors Sudh Pbaer yf W Melds
but " net be knead W the PMW for
W macsue the Tam Property horn h Pod c Erpbnera Pubic Empbyer
Trustees a ceder lgmse of any Err~ That
0) areas ire, a coraan with an Wwostrnert Adviser providing. wriorg other
Mugs. M h emablmwnen and operation of to Potkcio4 selection d the
Guvaresed IrwesVren Contracts in which h lrm Properly may be rammed.
Mactim d War nvesvwu br h lhM Property ad the payman d reason@
big fses to the hNa@nan Adviser and to any Subireprtan adwa retained
by the k%osbrot Adwa;
(c) rein w a nimly h perlornance of the Inestmen A&~ and now"
avaaay to connad wth ac h IrwestmM Adwuer;
(dl ewes and mmihvatt ft ho Property n h Pblbkot. Ce Guaaaad i is
Coreaca and in any War irwemrot rows 10 ea W the Wtimanrt Adwa.
bra not Rludrp OWS" MAd by Ptnbfc Emiyoyas pnb+ded to 9 a Roc
EM *W has I I - OW a mars be nomad in apaeA - Itwifrtios or
in a Guaranteed tnesnert Contract. the lumxs of ae Plairamem Trutt chi
eaest such mgrs in accordance wen such directions.
(s) bap such portion of the Then Property in cash of cash balances a to
Itseem from ana b area may Wan b be n ale bit inaraa d h Rsa►
rat ThM dmMd hereby without bbity for i90 tenon:
(� aoow An a such WHO a they may dean aduiseoe any ago,
ea or COW Property received or WWrW by them as Trustees hem ndet.
aniline Of not rxch aePxte6 Of dha popany wVJd noTewy be Purchases
M nesonuec hereunder; '
(W cause any 6ecvnlin or other property hold ore part d the Trust property
No be temp slerad in the none of h RoWrrers Trust or in to mums d a npni
nee and to hold any iweetmrhaniat in bearer form. bet rte boofa and mc,orde
d the Trustees ones is at tires ova ht Y such iraaorerss are ■ pat of
to Then Pmp@W..
(h) maka eaci ff aewwm+wpa and d"ver air and as doounana a bare
M and corweyanoe and any and a other iorunere OW may be naoasay
or appropriee to cary ow h poem ON parsed;
A vac upon any sbdt. bomdA or Who soaaw pro gash or spool struts
or powers of allorncy, with or without paw at cubabmution, emerwe any Don
vanion Privileges, aubeui M done, Or Other opbonc and moo cry pay -
mers icidmrta thereto; oppose, or cases it or clan me penticipae in.
oorpor M mwpmnboe a Wee dha gn oieong caporal@ sseurasA and
delegate discretionary Powana, and Prey any aaasorna6s or dopes in eon
rhadhdn therewith. and generally cram . any of h powers of an wnrar with
nsI - b rxla bode alewas6 a Carr Property held as pan a the Trust
vropatr.
Q ether ise contracts or aranpetrrre for goode Of Mvicm nghned n con
nect on with the opainot of Pre Rsurament Tho. nesdng. bet not yrited
IN contracts with custodians ale coraacla for the proveon of adrnurmMve
(f) bone- Or teas moray M the PLOWe@s of the Rebmaman lho in such
NMM and M,an arch ul and rcndaaa n h lure" *Wl dean edw
able. Prided del this apVspre arndimf of such borrowings she not @coed
309@ d h val e d h'ka Propety. No peen Wdnp roar b h liuttaes
stun be bound b aaa h appkrmion d h money bn a b inquire use es
validity, i mpsdiasy Of pmPriety of say such boo owirhp:
W uhau reasonable agrarian n rmWm d M the operation d the Reaernae
lust and dsdind ex3h eVieen from she Thof properly:
(m) Pay @roes PnypertY albeada to h That Prdpsrty Wcurrad in coonac.
eon with this Debi CanpasaM Plan Ouafied Plans Of the Erpcysr
Vi a% and ded, such Otp@nea from VW Porten of h Tnto Property to
.yarn &Jett vQwmn arc ProPaty aoesoe;
(n) pry out of h Trust Property ON race and personal property can, income
bags and other amt of any and M lords wle dh, in the opireon of the Throes
we prdpaly bvi, .. of an sed udo eorng or fAn aws upon. or in rsghad
d. the True Property and akcete any such tastes to to apprPrim accoum.
(b) a". Who" and rmpaal the BYLawa prw'ided aw Koch Bylaws we
a s ones cm&W n with h Mena at ems Declaration of lum;
(p) employ Parsons to male eatable kaasas in h Retirement True to
arhpdners "be to mairoin a Dderred Compensation Pen under Section
467 or a QuWtW Plan umdw Sawm 40 of the Internal Reenue Coda as
(y true are Annmtt Report Of h PAD rarr0 ThM. W the Oifdaume doer
marts and other iferavre used by h Reenrnat Trust;
(n) make bans induekng the pxdhax of debt obkgaeorw, pmwided hr as
sxth loan& &hit bar "dare& at the dimnn madam rise;
(a) contract M. and tlMegM any stows Vaned hereunder to such officers
agerR arpgm sudlos and atMrep a h Vuom may Wad, pr o ded
M the Trustees may not dolageb h pavers M bit in Paapraph$ (b). (c)
and (b) of this Sedan 4.1 and may not detapae any Powers it such delege
bon weed Y ogee their fiduciary d,bs;
W paid. tr h nderndcaedn d h rtffcas and lueaas d h Ragmen
liar and purchase fdhsoy, neurt era;
(u) meinown boos and reeada ndudimp amParab axouna for art Public
Empbyec Pups Employer lumas or Enpger l o and art eddibaW map
ade sccouris n am mm41 d uudw. are oorteiabnm with. h Datmed Con
F Or OmMified Pan of each Public Emupbyar; std
(w) do AN Such .der talc as Koch phaoasdi n and eases a such rights
and Pr%fte: Wits ugh rot s0a '"a maenad heron, as h Tnabes may
dean necessary a mppmprima b abnrma h Tha Propmy and b WFY
du the puposes of the Rating W lh.W.
7r. tlan 42 DIafAWMon o/ Thiel : DwMbL s d to 1tm pmp
arty stye be made to a on behass Employer or Public Empow
lustre, in accordance with the is ht of the Deferred Compensation plant
Ouei6W Pon or Employer Trusses. The lusts" d to R@Dmnere lust anal
be I ,, pra KW n making Payments in accordance with the 6reclsors of
the Rabic Employers grblc Enpioyer TRs Or other lust e a the Employer
lush without '""d g rrnertaer such Pitman are in ppmpli lum wth to
Pries ws of she Deferred Compenauon or OuafiaW Pas or the agnw w*
creatirg the Employer luaK
Section 1.3 Eaecutlon of Inatnanand The 1u><a" may umnsty
dmpwb any on or more Of the Trusts" to aecue any irhstnnere or dopy.
mere an behalf of Y, musing but no, Ailed b the aw" or endorsement
d NY check ant to signing d any ePPinaara insurance and dew oon
tnseR and bra action of such d"igrom lases or Vusees ahal here to
Game Mace and ate= as it taken by as to Vustesa
ARTICLE V. DUTY OF CARE AND LIABILITY OF TRUSTEES
SaC"o 5.1 Duty of Oafs: In aterpsing the Pawere h reinbdae granted to
the vusesea ore Trustees shed Palorr.: as acts within their authority, tr the
amhaire Purpose of Proridng bensas for the puck Employes in conruc.
Lion with Debmed Cwr Parseoon Plane and Public Employer Tnust"s pursuers
b OuWhfied Plam and atoll perlortn such acs with she care ". Prudence
and diligence in the arpara'tarsx8 den wending to a Prudes Person ad.
ro in alike capacity and femiliar with such miners would ore in the conduct
a an anferpnse of ■like c harectsr and wish like antic
Section 5.2 LlabNry. The Treeless shad 1101 be liable for any mistake of judg.
as or other action taken in good bath. and for any action taken of amted
n rskwxe n good bah upon ore sods of amount or Deer ram d to
Retwe nits Vast. With the opinion of courses. or upon MPOrh made to the
Rebrenre Mat by any of as dfieers. MPIOfe" a agoras or by the Imest.
metro Adriaer or any subimesmrhet ad_&, apzusans, appraisers or titer
expert Or axsWents sslw W with reasonable we by the Vuste", officers
Of emhplgO" Of the Retirement Vat. The Trustees atoll also not be liable kit
ay, loss sustained by the Trust Property by reason Of any irueslmant made
n Hood tech and n acaordaree wad the standard of care sit boy in sacton st.
Section 5.7 Bond: No Trustee shah be obligated to give any bond or other
aepmty' lor the Performance of any of his or her dales hereunder
ARTICLE Vle- LIAL REPORT TO SHARE14OLOM .
The Trusts" shad anrkgly oubm to the Public Employers and pubic Employer
hale" a wraso regal d to barsatius dyne Retirement Teel. swan
vial statements which stud be certified by independent Pudic ' ds�
tan. by the lusts"
ARTICLE VII. DURATION OR AMENDMENT OF RETIREMENT TRUST
Section 7.1 VAthdnneal: A Rare Employer or putlie Employer luaha
e ant time, witdraw from tat Retirement Vast by deti�ering b the Boarddool
lusts" a omen stetemere d wiNdrawel In such statement. the Pubis
ernany M
E'nPiWw Or b Ce ErrDFa Th SW ���s dW the lure pop.
Emplaer a denhad own odnposestion dock
by empltryeas of such pubic Employe pureans b its
a Dst n ero Lion Ran a loom "
Qualified Rem. a s o axoun s of Ertlploye s s Mm am
l b a ahel detpn
ore lneaost nftam b %sloth tsar property
athaO be transferred by the lute" Of the Rabmen Treat or by to lnstee
of the Employer lust.
Section 7.2 Ourstlon: The Rwinanens due anal continue ura7 rem wed
by to rte of ■ masonry to the pubic Employers, each ca" we rose ups,
lerrrlrheaon, as a the Must Property shoo be paid out b to Public Empoysea
Rae Employer Taste" or the luale" of the Employe lusts. "appropriate
Section 7.l AmendrrA tf: lye Ra"c"ers lust maybe ananded the we
d a mesonty d the Pubic Employers each co" one rdo,
�
Section 7.1 Prdpdun: A r"ohuGOn b InnNree a amends the Reerenero
lust Or to rempe a Trustee shad be subnneed b a vole to ore pubic Employers
if: n a majonty, of the Vulsom W dyads. or. (s) a Petition rapuesh a WIe
signed by not Iess than 25% d to Public Employers, s it ng b the
7 umft
ARTICLE VIII. MISCELLANEOUS
Seetlon E.1 Oomndrrg Law: EXCW as tW*m mWred by sate or kites
Iaw. this Declaration d lust and the Rompmenj Trust hereby erected Shall be
Construed and regnlaed by the taws at the District d Columbus-
Section 1.2 Countenpafta: This Detlaabon may be associated by the Public
Employers and Trustees in two or more counterparts, sac. of which slat be
doomed an ongirW but al .d wtwd together stet cahsows ore and the one
instrument.
•
RESOLUTION NO. 79- 57
0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY O ROSEREAD
IN THE RATTER OF ESTABLISHING A DEFERRED CO:•:PENSATION PLAN
WIHEREAS, the City of Rosemead has in its employ certain personnel, and
W!iEREAS, said employees are and will. be rendering valuable services
to the City of Rosemead, -
. WHEREAS, the City Council has considered the establishment of a
Deferred Compensation Plan for the said employees made available to the
City Council and to said employees by the International City Management Association
Retirement Corporation, and
WHEREAS, said employees often are unable to acquire retirement security
under other existing and available retirement plans due to the contingencies
of emplo }mi_nt iaobility, and
WHEREAS, the City of Rosemead receives benefits under said plans by being
able to assure reasonable retirement security to said employees, by being more
able to attract compet::,t personnel to its service, and by increasing its
flexib.iltiy in personnel management through elimination of the need for continued
employmo,nt for the sole purpose of allowing an employee to qualify for retirement
benefits.
NOW, THEPFFORB, BE IT RESOLVED that the City Council establish said
Deferred Compensation Plan for said employees and hereby authorizes its
Mayor to execute the Deferred Compensation Plan with the International City
Management Association Retirement Corporation, attached hereto as Appendix A,
and
IT IS FURTIfER RESOLVED that the City Manager may, on behalf of the
City Council, execute all Joinder Agreements with said employees and other
eligible officials and officers, which are necessary for said persons participation
in the Plan, an example of which appears at Appendix B, except that any Joind =r
Agreement for said designated official shall be executed by the Mayor_
PASSED, APPROVED AND ADO ?TED THIS 27th day of November 1979.
MAYOR OF "THE CITY OF ROSEMEAD
ATTEST:
AF-R- 6 -88
W E D 0 :49 ICMA - R C 0
NOTICE
OF
PLAN
ACCEPTANCE
R - 0 4
ICMA
RETIREMENT
CORPORATION
Effective Date:
January 23 1980
110t
Connecticut
Area Code 202
293 -2718
Account Number:
Avenue
Northwest
Toll Free 800
424 -9249
934-3
Washington DC
20038
City Manager
City of Rosemead
8838 E Valley Boulevard
Rosemead, CA 91770
We have received your signed plan document and accepted your participation
In the ICMA Retirement Corporation deferred compensation plan effective on the
above date. Please note your employer account number. Each employee who
enrolls in the plan will receive an individual account number prefixed by this
number. If you have any questions, please call us on our toll tree number.
For the ICMA Retirement Corporatio f Peter L. De r to
Title: President
Date: January 29. 1980
I C M A— R C • P_ 0 3
INTFRNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
DFFERRFD COMPENSATION PLAN
Amended as at June 28, 1974 and March 23, 1979
Appendix A
RECEIVED BY
J'0-411.1'3 1980
ICMA - RC
it Is hereby agreed that this DEFERAM COMPENSATION PLAN &half be In effect an the date upon which the Employer has Ceuaed It to be
executed by M official affixing his signature on behalf of the Croveming Body in the space provided below however, the DEFERREO
COMPENSATION PLANwill not be legaly binding upon the fntematlonal City Managemant Association Redromeni Corporation vote a Notice d
Plan Acceptance has been supplied by It ,
CITY OF ROSEMEAD
Legei Nartla of the F�nployef --
Attest far the Employer.
Fa the
ey
Ignature o1 AU ,zed Official
Date M SignaiWe y
.GARY A. TAYLOR, MAYOR
Pant Name and Title
SEE INSTRUCTIONS FOR IMPLEMENTATION PRIOR TO COMPLETING THIS SECTION
Complete ILK following Prior to Melling this Agreement to the Retirement Corporatldn.
Full Name (City of, County of, etc.) City of Rosemead
Title of Official to whom Correspondence and reports are to be malfed.
nnt rim % City Manager
Address: (Include zipcode) 8838 East Va11e�Boulev_ard, Rosemead 91770 ��____
Employers' Federal Tae Identification Number:
95- 2079994 ff
How often will you make Contributions? Bi— weekly
what is the data of your first oontributlon? Unknown
Total Number of Employeoa 42 Nunberof ampfoyeea eliglble to participate 42 `
1
AF-R =•.
Ea -88
WED.
W-4-9
I C M A— R C • P_ 0 3
INTFRNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
DFFERRFD COMPENSATION PLAN
Amended as at June 28, 1974 and March 23, 1979
Appendix A
RECEIVED BY
J'0-411.1'3 1980
ICMA - RC
it Is hereby agreed that this DEFERAM COMPENSATION PLAN &half be In effect an the date upon which the Employer has Ceuaed It to be
executed by M official affixing his signature on behalf of the Croveming Body in the space provided below however, the DEFERREO
COMPENSATION PLANwill not be legaly binding upon the fntematlonal City Managemant Association Redromeni Corporation vote a Notice d
Plan Acceptance has been supplied by It ,
CITY OF ROSEMEAD
Legei Nartla of the F�nployef --
Attest far the Employer.
Fa the
ey
Ignature o1 AU ,zed Official
Date M SignaiWe y
.GARY A. TAYLOR, MAYOR
Pant Name and Title
SEE INSTRUCTIONS FOR IMPLEMENTATION PRIOR TO COMPLETING THIS SECTION
Complete ILK following Prior to Melling this Agreement to the Retirement Corporatldn.
Full Name (City of, County of, etc.) City of Rosemead
Title of Official to whom Correspondence and reports are to be malfed.
nnt rim % City Manager
Address: (Include zipcode) 8838 East Va11e�Boulev_ard, Rosemead 91770 ��____
Employers' Federal Tae Identification Number:
95- 2079994 ff
How often will you make Contributions? Bi— weekly
what is the data of your first oontributlon? Unknown
Total Number of Employeoa 42 Nunberof ampfoyeea eliglble to participate 42 `
1
A F• R
6— 8 8 W E D •:!50 I C M A— R C • R 0 5
ICM A
RETIREMENT
CORPORATION
Sung 700 (202,637-3311
7120 G Sneer. NW Toll Flee 1800) 424.524
We5h:•,g10R DC
200053864
TELECOPIER TRANSMITTAL SHEET
DELIVER TO: _ J a Y-t
FROM: c1C RL� hCF7 `
DATE:
NUMBER OF PAGES: (EXCLUDING COVER PAGE)
SUBJECT:
IF YOU DO NOT RECEIVE ALL THE PAGES, PLEASE CALL BACK AS SOON AS
POSSIBLE AT THE FOLLOWING NUMBER:
•s . • •: e.. ✓ y •' CO•L is •':JC k'M •Yniea:.: M •C.i•!Yn! Dia's 1q aURlnC ixY 9^�'MYnl U6e1• :M 1pOnap'an; C• IrY'� : Y
G:. •.: {'Iia'. ^: Aux .•I:p1.0c. >'•nr:[.A, &'KVpnpang A4=.,I unailnv!IAO1M�MbpU U.0ww -, A'a Laq_r •.•. -v
. t -Y• :t j -.Y• b• Yudi N'�"•M1P1 i "� • A. ^.!•(in V4mm�q Apx.po • Am!`K!w reel{ hb•!! Nax•aiY• • b•Yti•. D „., 1:-j
• »:_ ••.. • -6.. V •^Q OIIYiH lb Cone A::n.,.31:)lyl MIM'NlielNl • AmrunAsaanuond A(ppl moo P •fa • INI:N'A43
CY•M1S • AI':!'::! ^. ?vM.( Q!a AtSOC.iIi. • :nl!•nil••JnY A{ix'•lliOn •J• Aafela:nF plld!•a • A•nf!Cin •JDIS T. \!la' Afaa•! ":n
?CIMA
RETIREMENT
CORPORATION
Corporate Headquarters
Suite 600
October 20, 1993 777 North Capitol Street, NE
Washington, DC 20002 -4240
(202) 962 -4600
Toll -Free (600) 669.7400
Don Wagner
City of Rosemead
8838 East Valley Boulevard )
Rosemead, California 91 770 -1 71 4
RE: Administrative Services Agreement CITY CLERK'S OFFICE
Dear Mr. Wagner:
As per your recent telephone request, enclosed are the following documents for
your records:
Trust Agreement with the ICMA Retirement Corporation;
Declaration of Trust of the ICMA Retirement Trust;
457 Deferred Compensation Plan Booklet; and
"Making Sound Investment Decisions: A Retirement Investment Guide ".
In addition, I have enclosed a copy of the Resolution of the City Council of the City
of Rosemead which adopted the ICMA Retirement Corporation as plan
administrator for their Deferred Compensation Plan.
If you should have any additional questions, I can be reached directly at (202) 962-
4677. Your cooperation in this matter is most appreciated.
truly yo
C. Feldman
al Assistant to House Counsel
Enclosures
C�
ICMA -RC Services, Inc.
Member NASD and SIPC, is a wholly owned broker - dealer subsidiary of the ICMA Retirement Corporation
1- • •
ICMA
RETIREMENT
CORPORATION
ADMINISTRATIVE SERVICES AGREEMENT
Type: 457
Account Number: 0934
. • ICMA
RETIREMENT
CORPORATION
Plan # 0934
ADMINISTRATIVE SERVICES AGREEMENT
This Agreement, made as of the day of
199 ,(herein referred to as the "Inception Date "), between The International
City Management Association Retirement Corporation ( "RC "), a nonprofit
corporation organized and existing under the laws of the State of Delaware;
and the City of Rosemead ( "Employer "), a(n) City organized and existing under
the laws of the State of California with an office at 8838 East Valley
Boulevard,Rosemead, California, 91770 -1714.
Recitals
Employer acts as a public plan sponsor for a retirement plan
( "Plan "� with responsibility to obtain investment alternatives and services
for emp oyees participating in that Plan;
The ICMA Retirement Trust (the "Trust ") is a common law trust
governed by an elected Board of Trustees for the commingled investment of
retirement funds held by state and local governmental units for their
employees;
RC acts as investment adviser to the Trust; RC has designed,
and the Trust offers, a series of separate funds (the "Funds ") for the
investment of plan assets as referenced in the Trust principal disclosure
document, "Making Sound Investment Decisions: A Retirement Investment Guide ".
The Funds are available only to public employers and only through the Trust.
In addition to serving as-investment adviser to the Trust, RC
provides a complete offering of services to public employers for the operation
of employee retirement plans including, but not limited to, communications
concerning investment alternatives, account maintenance, account record -
keeping, investment and tax reporting, form processing, benefit disbursement
and asset management.
- 2 -
•
Agreements
1. Appointment of RC
• ICMA
RETIREMENT
CORPORATION
Plan # 0934
Employer hereby designates RC as Administrator of the Plan to
perform all non - discretionary functions necessary for the administration of
the Plan with respect to assets in the Plan deposited with the Trust. The
functions to be performed by RC include:
(a) allocation in accordance with participant direction of
individual accounts to investment Funds offered by the Trust;
(b) maintenance of individual accounts for participants
reflecting amounts deferred, income, gain, or loss credited, and amounts
disbursed as benefits;
(c) provision of periodic reports to the Employer and
participants of the status of Plan investments and individual accounts;
(d) communication to participants of information regarding
their rights and elections under the Flan; and
(e) disbursement of benefits as agent for the Employer in
accordance with terms of the Plan.
2. Replacement of Employer Trust
RC and Employer are parties to a Trust Agreement entitled
"Trust Agreement with the ICMA Retirement Corporation" (the "Employer Trust ")
for the administration of the Plan. The Employer hereby terminates the
Employer Trust (not the Declaration of Trust of ICMA Retirement Trust)
intending that this Administrative Services Agreement evidence the
understandings between RC and the Employer with respect to the matters covered
by it. Employer continues to be a party to the Declaration of Trust of the
ICMA Retirement Trust and agrees that operation of the Plan and investment,
management and disbursement of amounts deposited in the Trust shall be subject
to the Declaration of Trust, as it may be amended from time to time and shall
also be subject to terms and conditions set forth in disclosure documents
(such as the Retirement Investment Guide or Employer Bulletins) as those terms
and conditions may be adjusted from time to time.
3. Employer Duty to Furnish Information
Employer agrees to furnish to RC on a timely basis such
information as is necessary for RC to carry out its responsibilities as
Administrator of the Plan, including information needed to allocate individual
-3
• •
RETIREMENT
CORPORATION
Plan # 0934
participant accounts to Funds in the Trust, and information as to the
employment status of participants, and participant ages, addresses and other
identifying information (including tax identification numbers). RC shall be
entitled to rely upon the accuracy of any information that is furnished to it
by a responsible official of the Employer or any information relating to an
individual participant or beneficiary that is furnished by such participant or
beneficiary, and RC shall not be responsible for any error arising from its
reliance on such information. If within ninety (90) days after the mailing of
any report, statement or accounting to the Employer or a participant, the
Employer or participant has not notified RC in writing of any error or
objection, such report, statement, or accounting shall be deemed to have been
accepted by the Employer and the participants.
4. Certain Representations, Warranties, and Covenants
RC represents and warrants to Employer that:
(a) RC is a non - profit corporation with full power and
authority to enter into this Agreement and to perform its obligations under
this Agreement. The ability of RC to serve as investment adviser to the Trust
is dependent upon the continued willingness of the Trust for RC to serve in
that capacity.
�b) RC is an investment adviser registered as such with the
Securities and xchange Commission under the Investment Advisers Act of 1940,
as amended. ICMA- RC Services, Inc. (a wholly owned subsidiary of RC) is
registered as a broker - dealer with the Securities and Exchange Commission
(SEC) and is a member in good standing of the National Association of
Securities Dealers, Inc.
RC covenants with employer that:
(c) RC shall maintain and administer the Plan in compliance
with the requirements for eligible deferred compensation Plans under Section
457 of the Internal Revenue Code; provided, however, RC shall not be
responsible for the eligible status of the Plan in the event that the Employer
directs RC to administer the Plan or disburse assets in a manner inconsistent
with the requirements of Section 457 or otherwise causes the Plan not to be
carried out in accordance with its terms; provided, further, that if the plan
document used by the Employer contains terms that differ from the terms of
RC's standardized plan document, RC shall not be responsible for the eligible
status of the Plan to the extent affected by the differing terms in the
Employer's plan document.
Employer represents and warrants to RC that:
(d) Employer is organized in the form and manner recited in
the opening paragraph of this Agreement with full power and authority to enter
into and perform its obligations under this Agreement and to act for the Plan
- 4 -
•
Plan q 0934
ICMA
RETIREMENT
CORPORATION
and participants in the manner contemplated in this Agreement. Execution,
delivery, and performance of this Agreement will not conflict with any law,
rule, regulation or contract by which the Employer is bound or to which it is
a party.
S. Participation in Certain Proceedings
The Employer hereby authorizes RC to act as agent, to appear on
its behalf, and to join the Employer as a necessary party in all legal
proceedings involving the garnishment of benefits or the transfer of benefits
pursuant to the divorce or separation of participants in the Employer Plan.
The Employer consents to the disbursement by RC of benefits that have been
garnished or transferred to a former spouse, spouse or child pursuant to a
domestic relations order.
6. Compensation and Payment
(a) Plan Administration Fee. The amount to be paid for plan
administration services under this Agreement shall be 0.9% er annum of the
amount of Plan assets invested in the Trust. Such fee shall be computed and
paid at the end of each month on plan assets in the Trust at that time.
(b) Account Maintenance Fee. There shall be an annual account
maintenance fee of $18.00. The account maintenance fee is payable in full on
January I of each year on each account in existence on that date. For
accounts established after January 1, the fee is payable on the first day of
the calendar quarter following establishment and is prorated by reference to
the number of calendar quarters remaining on the day of payment.
(c) Compensation for Advisory Services to the Trust. Employer
acknowledges that in addition to amounts payable under this Agreement, RC
receives fees from the Trust for investment advisory services furnished to the
Trust.
(d) Payment Procedures. All paygents to RC pursuant to this
Section 6 shall be paid out of the Plan Assets held by the Trust and shall be
paid by the Trust. The amount of Plan Assets held in the Trust shall be
adjusted by the Trust as required to reflect such payments.
7. Custody
Employer understands that amounts invested in the Trust are to
be remitted directly to the Trust in accordance with instructions provided to
Employer by RC and are not to be remitted to RC. In the event that any check
or wire transfer is incorrectly labelled or transferred to RC, RC is
authorized, acting on behalf of the transferor, to transfer such check or wire
transfer to the Trust.
- 5 -
• •
RETIREMENT
CORPORATION
4
Plan # 0934
and effect.
13. Governing Law
This agreement shall be governed by and construed in accordance
with the laws of the State of California applicable to contracts made in that
jurisdiction without reference to its conflicts of laws provisions.
In Witness Whereof, the parties hereto have executed this
Agreement as of the inception Date first above written.
CITY Of ROSEMEAD
by:
Signature/Date
Name and Title ease Print)
INTERNATIONAL CITY MANAGEMENT
ASS TION RETIREMENT CORPORATION
by :�...
StephLTn WM. or o a e
Corporate Secretary
7
• •
TRUST AGREEMENT WITH
THE ICMA RETIREMENT CORPORATION
Aa=l ff mme by ana bw~ ale Emplgw narred in rhe aasehW Two-
lubon are ale lrftr anal City Mahapament Aaaoc a o n Robnrnart Car=es
bon (hensnd* rw ?roast" ar tlwrwrwt Cdpommni, is nanpwtu ewpow
bon wPrasa and mMV weer the ter d to Sma of Daoww for me purpose
d irnmrp and adtsnean aamnanrq the rural ar ade by Empla+n in
connaabbn wM dakrno eontnrewart attend MOW~ wear wom 467 d
To innnw Rawrke Cod at 1954 Wo raaai. This Aignamere rust We rod
upon aceepernoa by ale Truax d w aapananwt W to Empgw o Sane
as Treace in axddrae mammas w set faM in de at i rsaakrtion.
W1lRA{, ale EMOOW nw aamibiwtad adatwna am ow am aon unaw
section 457 d rM Cox (ma 'WMi:
WNOWAS, in oraw ra mwe wo be adko kwm mossap to tlifal"
ale Empoyrs corntraduai aoai, - ruder to Plan, rhe Empyw ooww o
low sow pwddCaay wncurs epuw o the arrioun d Campwtewan asset
WISM[A& ale tunas set awa a "No wM ..4.1 Meader ham
rest IMGWM a mend. are tb ba OOAr4WY widen ale dwmn an. coi in and
owrwwk0 of the Employ« are arbler to low Empalara Abaan npn d wet•
draw, no wnpoyeoo rewnp any ides wMas"m mwwn:
NOW, TNOWFOOK this Apnwrwt wibewam low W ow Employer we pry
monies o ate Truce to be pane in Ass- eCmpwnaeson aomune far ma
Employer: (b) av Atrrna cowww mw it war eat ltd sow std any finer
tunas winch 0 may memo herounost in trust for ate Wes era pwpom Arta
upon the brim era 0a490e ONWas ww4 era (C) de p nto hoed spree
as team
ARMU 1. OOM" DUM OF THE PAf=
Saedan 1.1 Ontlawt Owly d do m p', j , The r per, antes moo mW
tar, Dryrrnww post o ale afrrourtmi d O anrplgwas' mlrnpwremilon
which are dslwrsd in M=rraanaa wM low were sea Oarldeore at to pen
to the awe asst aSh amount w O be aaemiad doer de oust.
Ssc*m 12 QMaW Duda d go Thalbt The 1taYaa ales hold es end
TDWVW by 4 MWNMVK*010011. opsew Meshft iso dwstrorn.wo1Cn-
mere du our Funds a ties ataturew fe Tiles Fund, ooka de income
Mmicr. and male paynww es hwenstw pwiaaa. The fis
a mists loo hold d Trull Funds ~ at bartdrnd b i as &=Mew TMww
by rhe Employer font war ^p d@W W owmen esOn wrartpwrwo with its
Empgwse order pons oaadibW in aaasm 467 at to Cox Such Trust Fund
ties be Kpsd to es at ale wise sea pr, c, of to Agivem m
AJ1 KU U. ll W AND Wes= OF TNt TMMU N WVWM Ny,
ADINGST11ANK AND NpUPINDO fT OF TN! TF WT
FUNDL
980dw 2.1 kwwbnwlt PMO alld OWN Of Ow lunatic. The lur
we ties hate ale power to mow are ninemi ft port- 0 sea kco of
area oust Fund and leap ale lust Fred 4kewaq wawa osencton oa an
pinbow are innny in tawrtaa of in wino ompWK reel or parsart , wtw•
ow alumina. irauorp. but net mead 4 stoat caftan of PON bonds
7
r iM�YM �
ra ilff"it an" and insufw a oobom nwt0apes, isna caw a,,,00mm at
ietfsttaataw or awnsrr0p irMlartare CCnrpwMt Borman a aau9 trues lunai
or aeperb and dillsrsrt rypea d Nnda (rtduainp a xty. asaa rrcome) wtten
hnwi nawrwnars d wale Ora least 9"Twrd ter ewe prowled how w mat
ale Emooywr my a red mewnwe by the Mete amarq awreoe nw4mart
aerrtwws in Kith PmPw m es ate Emol%w aualatse in commomm wra+
its dwnW aarnpernwort oWwwrwta arm 4t ampoywa. Far Vow cumofaa
maw new Funds myrba CamarglW we lust hi as aw am" by ww
Empioom a tsuen't to ft emr at ale am Rommme %a n,ewnan pones,
wao0 n ale lines y TO Season may be dolepad W the Thaaw o any beck.
irtunra arouse aannV or wy inmrwe sawsse ffw p or apmasctno
as
SOCUM a.a AdaY low" Pawls at the Thwok The lrrw max haws
ale power in a, dimmest
(A) l) pealeas or mm mw fait sty sommme or doter properly and to
non loo sane in m,r.
(b) m ad. wehwga Caney, 111111/40 Or aatarw+w dispose of dry sswnt
ON a eater 010W y hstd by R W Wrest canatem or m pubke auebon.
No 118120111 aaalin0 wall rhe Auae shol be board o lose ale aammon
of de PAMM money or to Wits" into ft Wi0i1% woodu y, of piapn-
sty at sty such we or cow necomom
(c) To wtw upon sty O=m batch or other seeurntisc fa gm pastes or
$papal 0=" of pawwa of aaarey wim or wmaa Power d tubm":
to enendw sty certora W 0111WO as sulmompban rtplro or Cher opbona
and o we arty poll tb irciawam owed; to oppba or to common ra
oroerrwr pank7pmia wt CpPa- na0wtaeauor COW - tpw sted•
bt0 aorp, wouness. and to as"m dauwwwy aware. and to pry
any w mernone Of dw0w m Cann clan awwwm: sea 94rtenety o ow-
a" only d eta oowera of an ow 0 arm utao - to mioplo bonds aacuraea
a Cher DIWWtV held as Pan of ale Auer Finds
(d lb aauaa any aawroaa a other VMWW held a pct all ae Auer Funaa
to be n- in ie own renter sea o hdd ary irnwlelt std in pester form.
but the bodes are nopas d to Austw ties st es woes saw me as Slut
inio merit are a part d am our Funds
(e) lb baraw a ewes moray ON the Mom of the our in wCt amount.
are upon such wrm and custom w ate Due" ties aarn adwsabe:
and. br any wm W borowed. to i=us As promissory nap as Ttuwsa and
o sewn the naMmnt marl by 000WV M. or ary part d au our
Funds No meant Nndinp malt' loth* lures to be bapto to see au
aPaenoon Of ale many lane or o inpuin ono as wily. mosoor y or
Wapnesy d ary sign bog raw+rp.
(Q To bap such potim d dta lust Fins n cash or Cwt brmew se
T4 finawa ham farm to mm my darn to be in de oast most of me
ThM passed holft wnU kebr4Y for inwsw dnenat
(9) $+asap are Worn to Walt arm as it my doom aawasbe any Sawn•
bas or der patlwty racst`ea a 404011111 by 10 lumiw IwWndK wtaater
a nd abph wewtaw a Cher popety w usa ndrtnsey be purehuea as
In ewrtan hanuraK
(n) To meta aseuea aarmwWga w any and a ooaOnWm d
Irsmwr and eorhgwoa and any mseurnerts dun may ee
neeseaary w ap ndone b Carty duA powers new" granted
(1) b soma cwnW nsea or subM m arbanon any owns dlbn or
afnWa dull or amng to or Dorn r w JIWt Furors: to CdnVnlra or dess m
SLOW or wo or adrrmnom a pxaaarga: and to mommnt we ltut Funds
In all Was and lapel ante aOnnWtadW wOaWS$
(u TO do as such aces on as etch prdaaOlpa and mrcm as sucm ngnW
and Invrlega Wmacpt rid apar+A' I mrAawd heron. as me Trustee
may darn neCSaawy b aanasar to Tna Funds and to Carry out tm
Purposes d me Jut
SWUM 2.2 DMI&MMllbm hob tM lust Funds: The Emoohw heredy
appor a ma Threes as its agent for me out ooa a making asmomom nom
the True Funds. In this regard me mining and Cdhatiom M form in dw Plan
are m gusts and =ib dw Truesaa poww
Sedldn 2.4 MMWIen of lime Fm tdr At least arcs a year as of VWumeon
Dan dapmsw by dw Tnwtea dw Justse shall dearrrano ow vwA a ew
Trust Funds Assets d the That Funds she be VWuW at mWr market rehire
at dw clan d bwrwn on ma Vakisom Oak a in me ahaana of readily
asCar ow nwnte a un n tha Toes aha Oespi na in aLLaanp wet
memoda cowsmond IdlowWd and untonnty appka.
Seadon 2.1 EtlWW= of AcOm by IN Iplol : The Trues may ratty upon
any caofrdste. rmxe err areemn purpdrdng m mr. Dan served on M Wf
of the Employer m wo TO TP WM bMWVU m nets bean 19Md by a ally
aaeprea alhew d ew Enromyer. IVO eartrrknseam she ce tWmirtp upon
any of ew Trust Funds or Tntaee until mesa we rwow Dy M Trustee.
leetlon 2.2 A*Am of Cmuweb The Juan rnmy=nmA we any wo ccu r •
sel with raped m me CahQUmOn of IM AWMT Wt. a *Asa hofWrma
or any sm which it Dropdeee m tales or arm. and aria nd be Was ax any
action MM a amrdW in gdba lash pursuant m such adwca
Seeuon 3.716oetlrsots. The Jhaa etas we ordinary an and smears,
bus aiprCS dui seen red W ante for ay mestte d Frdpmrt a ddw arbors
talwh in good Ism. The Thamme WW not be Wow br any Illw suOned by
rm TnrW Funds by reasons dry irniwalwt made in good ton am n salon
dance wth do do wstom of dw AW@Wnert
The Truss" dime am obsgam eW be wnmed to mace owsWY
�mpdsed upon it by this AgrsamWt.
ARTICLE IV TAXES. [XPB AND COWETAATIDM OF IMAM
SSCOM 4.1 lb= The Juan aWS degta ham end dwgs SMW dw hue
Furors any wm on dw Ter Forma or dw it ww dwsd or hMSCh ew Tnw
tee is required to Dry With nsaped m she irtwee d any down swam.
Seesast 4.2 E,pwwm The l ueee etas deduct from and chits q apYmt
dw lust Fume w raseawb a amwen ricui M ew Tan in ew aarsne
traan d sew IhO Furors mkgbp cares. MONICA unearart a wooy. and
fitter necessity fees.
ARTICLE V. SSTTIaIOR OF AOOOLWTI
The Trustee eW tees a,LVJW aced d@WW SCCWM d as imWadnsrta
recepR dfDursrtwtts. and Other arteaCdO a lweundac
Wdhn ninety (00 days am ew doll of awn seal yea ew Jhaa arts rwF
der in duMm to ew EmoaW an account at as am and bamacb" as Tw
tee mreurmw it dry part d dw Just Fund WW be waved tllrargn ow moo m"
at any cwww. - - -H W or cdntnnglsd Jun Funds, ew lee a o.W report
d such Trust Forma shall ds subnutte0 wah am irmarpor -W in dw account.
d wahn retry Isgl aeye alter er rmerhp dIM adoaet a dry WrwtdW asotat
m EmotgWr ha not Wed with ew Juan neon at arc obsewdrh b any as
or transaction d Via Twee the account or me t sa account eW becarw
an account soma It any ableution Its been ale0 and if the Employw w sea•
tied ma a snrad bs wmaww Or it ew account is adjtlrW to one Employws
she action. ms Employer eW in wArlp awe we tm IbAm pasty Wpnym
of ew account and a ones bacdm an aaxut aura
When an M=ggbmcwm an account stated. >Xm account she be 4naYy
Noma and ow nn to cdnwwtely amomro d and mommom as.t suCn
accarea rwd bean /rmW and &*WAO by a tuagnws or daerse at a court Co
CamOdOM NnadCDO m an aCW or prpCSSON m wrlCh 1114 Juea aria ma
Employes were oases
The DUaw OW haft do nphi m atody is any, Wm m a nowt d cemDOW R
Iurascom tar tm Modes atmW,wx of its account.
ARTMLS N. IILSIOM S M AND 1111111110WL OF TRYSM
Sea1m 4.1 flselg I l of Tnmsu: The Jums mwy moo st any me
by Wing wo dw Emotdw as written nsgrWoon. Such asp aeon sets Wks
040 MAY (40) aaya hen the aft at was riling are uom addonmw it d
a straceaa dunwert to Secem dl. wnrJww atoll Are occur.
Seallen 4.2 Reslseel of Ttlelae: The Emotdyer may rwmmw ew Trustee
at any Wm by O@hWrig m dw Trustee a Y mm notice d b rsnwm and an
appanbrw w of a successor pursuant to Saceorh 4i Such rwmmw rill rid
we Wwa prior m Gray (SM aye from wan iserery ursese do Tmss agrees
to an seem eeacs am
Sealer) 4.2 AFFehmlWK at SueoeeWr TA~. The amontmem or a
successor to tre Iiuese WW salts ewe upon dw dormy to me Trusts at
(a) at I t wrhe in - v rwchasa by the Employer appointing suen six.
csum Wm wvwrm suCh sut.sem ham imbiay for eW am and om s.
sons of rta pnadeeeaeo[ and (b) an @cc$po rco w III IN miscued py sO:tt
scewa
As of the "An" Wt lots haWn wet mopes m M Justae OW rge s
m each succesed wan ew dams lace W call a a such suctsed er nod
bean ohpmsy mmwd a Juare twemda
If a wccaaor W not assorted wmm way (OM ate alter eta Juan pre
notice d r using Mott pursues to Section Qt.. ow 11uM* moray assts to any
cast of Cal powt jlrrtsOC90f1 for appamrwtt of a successes
Seatlee 4.4 Trtdw of Ftate4 lo Smoommor. Upon ew wptnor or
wnaha Of One Jhaa and appondmm of a wbcessm and ow me *net
account of the Jwtea no been prbpaly ssme0, rm Ju em so "rest, and
dakW any of ew Just Funds irw hWO m such acewea
y _,.ai
Seddon 7.1 Clumptlon OW R wommo ion: This Jun emit continue br such
tVrw a may be necessary m adccrnp 0 eta purpow for whch a vas cream
OW r:Wy be wminmd or rs`pWd at any ems by dw EmWW a it ream
to any andow al reate - - - I, I rig Emplopm W ON nab= do such dent
nation or woocDbn she be (iAn m the Juan by eta Employs Upon w-
mrWan or moccamn of dw Jut as at n aka owned eW return to and
rW Wit m tm Empga To wo of On Just MW na hmmAx reticle me
Employer of eha Emoohwcs cororating ottigaoar too" I A comporma•
ban to Empoyea in accordance sum me to of One Flan.
/ SeeYm 7.2 Anenskne tb The Emaoyw meth here sew mgm lo amerha mm
Agmwnwt in wmw and in pan bull dnty with do Trsteea written consent.
Any such time 0 ON eW becorm slat. me, upon (a) dsewwy to ms Trustee
d a wntteh inenanart ef ie wwrwt, aria (bl dN enaorssnhant t>Y Uhe Taw
tee on than naanmerrt of to Consent mWatb
Sealell 4.1 Lame d Use Dbtrla W CobAnNo to Oeaate This Agree-
men am sew 1KO hectic crested aria be Congo%" and moasm try me
law of dw Dime at C kenos
SSCOM 42 Eta4 @MW EnIFI l - - The T2maoyer s ha include any dery
son wind SJOOWa ew Employer and wm owsW becanme sublea to ma
obspaaorr of dw EmpioW unow ew Plan.
Sealm 4.S WNMMIK The Emovow mw at any ems aria ham time to
ems wMraw a swoon or as d Just Funds accts by ears Agreenwt.
Stollen 4.4 n ' OW lhrTher: The masasim induces dw torWnne and
tlN anDcaer hndueaa Uhe PArsl ursen cull Cctea "maw another meaning.
0 0
APRI , -3 Ea -88 WED 1 50 I CMA —RC P 05
ICIA
RETIREMENT
CORPORATION
Salle 700 (2021 637 -33:!
i l20 G Sweet NW Toll Free (8001424.5248
Wa5hrng10n. DO
200053864
TELECOPIER TRANSMITTAL SHEET
DELIVER TO: V Q' n -
FROM: c1 C o-
DATE:
NUMBER OF'PAGES: �1 (EXCLUDING COVER PAGE)
SUBJECT: R)o n tgcc-Cp+kr-2CC e.
IF YOU DO NOT RECEIVE ALL THE PAGES, PLEASE CALL BACK AS SOON AS
POSSIBLE AT THE FOLLOWING NUMBER:
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to
U3
DECLARATION OF TRUST
OF
ICMA RETIREMENT TRUST
ARTICLE 1. NAME AND DEFINITIONS
Saoffon 1.1 Nana: The Name d the Trust. as amended and rastaled hereby.
is the ICMA Retirement Trust .
Seddon 1.2 DaflnNfons: Wherever they are used herein, the following terms
ehan have the following respective meanings:
(a)By-Laws. The Bylaws relm to in Section 4.1 hared: as amended tram
tins to time
(b) Deferred Compensation Plan. A delerred compensation Plan atitaohshad
and maintained by a Pudic Employer for the Purpose of prwiding reare-
mart income and other deferred benefits to its employees in accordance
with the provisions of section 457 of the Internal Revenue Code of 1954.
as amended. .
(C) Employees- Those employees who Participate in Qualified Plans.
(d) Employer Trust. A trust Created pursued to an agreement between RC
and a Pudic Employer for the purpose of investing and administering the
funds get aside by such Employer in connection with is Deferred Camper,
swoon agreements; with ifs employees a in connection with its Qualified Plan.
(e) Guaranteed Investment Contract. A Contract entered into by the Retire
ment Trust with insurance companies that provides for a guaranteed rate
of return on investments made pursuart to such catrad.
M ICMA. The international City Management Association.
(g) ICMAiRC Trustees Tease Trustees elected by Ind Pubic Employes whet
in accordance with the provisions d Section 3.1(a) hared, are also mare
bars of the Board of Directors of ICMA or RC.
(h) Inveatrmen Adviser The investment Adviser tot eders into a contract
with the Retirement Trust to provide advice with respect to investment Of
the Trust Property.
M Patofics. The Portfolios of investments established by the Inuestrnem
Adviser, to the Retirement Trust. under the supervision of the Trustees. for
the purpose of providing investments for the Trust Property.
Pudic Employee Truve Those Truutaees elected M the Pudic Employers
who. in accordance with the proinsiors of Seman 3.1(a) hereol. am full -time
employees of Pudic Employers
(k) Public Employer Trustees. Public Employed who gene es trustees d
Mr Ou9afied Rant
W Pud't Employer A unit of date or bbl gwermsd. Of any sgervy a
warunedalM thered. that has adopted a Deferred Compensation Plan Of
a oudasd Plan and has executed this Declaration d Trust .
(m) Qualified Ran. A plan sponsored by a Pudic Employer for the Purpose
of providing retirement income to ft employees which "fisaes the qualifr
cation requirements of Section 401 of the Inaemal Revenue Cade. as
amended.
(n) RC. The International City Managerned Association Retirement CorPO
nation.
ArrtnvlA 0
(o) Retirement Test. The Trust created by the Declaration of Trust.
(p) Trust Propene The amounts held in the Retrementa Trust on behalf of the Pudic
Employers in connection with Deferred Compensation Plans and on behalf of the
Pudic Employer Trustees for the allusive benefit of Employees pursuant to Duel,.
Sod Plans The Trust Property shall include any income resulting tram the invest-
ment of the amounts so held.
(q) Trustees The Pudic Employee Trustees and ICMAIRC Trustees elected by Me
Public Employed b serve as members OF the Board d Trustees of the Retrement
Uust.
ARTICLE 11. CREATION AND PURPOSE OF THE TRUST: OWNERSHIP
OF TRUST PROPERTY
Section 2.1 Cnlatlon: The Retirernera Trust is created and esab ishad by
the arecution of the Dedaration of Trust by the Trustees and the Pudic
Employers
Section 2.2 Purpose: The purpose of the Retirement Trust is to Provide for
the Commingled investrned of funds held by the Pudic Employers in cones
lion with their Deferred Compensation and Qualified Plans. The Trust Pray
tidy, shall be invested in the Portolios, in Guaranteed Investment Contram
and in other investments recommended by the Investment Adviser under the
apervision of the Board of Trustees No pert Of the Trust Property wd be'uvesed
in securities issued by Pudic Employes.
Section 2.3 Ownership of Trust Property: The Trustees ShatI have lapel
late to the Treat Property. The Pudic Employers shall be tte beneficial owners
of the portion d the Trust Property allocable b the Deferred Compensation
plans. The portion of the Trust Property allocable to the Qualified Plana shall
be held for the Public Employer Trustees for the exclusive benefit of the
Employees
ARTICLE Ill. TRUSTEES
Section 3.1 Number and OwIlReatlon of Trtrsten.
(a) The Board of Trustees shall consist of nine Trustees. Five clans Tnntees
Our be NM1tme employees of a Pudic Employer (the Pudic Employee
Trustees) who we authorized by such Pudic Employer to serve as Trustee.
The remaining four Trustees shall con" Of two Penors who. at the time d
election to the Board of Trustees. we members Of are Board Of Directors Of
ICMA and two persons who, at this time at election. we members Of the Board
of Directors of RC (the ICMAR±C Trustees). One date Trustees who, s a deeds
at ICMA, and one of the Trustees who is a director d Ri shat. 81 Rte time
of election, be full-time employees of a Publie Employer.
(b) No person may serve as a Trustee for more than one tens in any tenyea
period.
Section 2.2 Election and TOM.
(a) Ecapi for the Trustees appointed to M vacancies pursued to Section 35
hared. the Trustees span be elected by a ode of a majority, of the Pubic
Employers in accordance with the procedures or brth in the SyLaws
¢hi At to aifM alsctim of lurk twee be akic ed for a term
drove W Ears, Ma 7WMs shell be decbd for a loom of two years and Vega
Trustees nab be elected for a rearm of one year At esch subsequent election.
litres 7ud e" gl ae be Waded for a assn of unee years and Wall to of her
&=@am selected and Wakhed.
Section 3.3 MoeNnations: The Tnudees who are full -time enhployses of Pubic
Employers shat serve M the Nomiraerg Committee for the Public Employee
TrutMS The NmarlMng Com ire ones choose randidafes for Pubic Em pkWw
Tines" n wwrdanoe walh to poadures M forth in ter By-Lam
Section 3.4 ROWWOLan and Removal.
W Any JhualM may mope M Trustee (without need for PINK Of K40011xwt
accounting) by an #atrunsre in writing signed by to Trustee and dekwens0
So Pte other Trusses and such reogrom dui be amxtive upon such delivery,
or at a Inter dab according to the terrrh" of the instrument. Any of the Vuftee
may be removed fa reus& by a woe of a mgoray, of to Public Employers
(b) Each Pudic Employee Trustee " resign his or her position M Vudw
within wily days of the dale on which he or one oeMM b be a ALOrre ariployee
d ■ Pudic Employer.
Section 3.5 %uncles: The tern of plea of a Trustee ale WinirWS and
a vaancy Well occur in this *went of the death, mognabon. removal, sdjud-
sled incompetence K other uhcapecty, to perform the duties of the office d
■ Trustee In the case of a vacancy. the remaining Judaea dull appoint such
person M thy in their discretion rat on R (Subject to to lifnim" lid foes
in has Section), to serve b the urmpired potion of the term of the Trustee
Who has resigned K chemise ceased to be a Trustee The appo -nit & SW
be made by a wwrmen instrument signed by a majority of to Trustee. The per-
son appointed must be the same type of Trustee (a, Pudic Employee Jut
We K ICMA iRC lueee) M to parson who her coated to be a True** An
gVomerhent of a Trustee may be made in anticipation d a ve ancy to odour
at a Icier One by lesson of rebremen K resgnaGm. provided tal such appca
met whet not become alledive prix to such retirernars Or rMgrabm. When
a er a vwancy in the number of Sueees Wee occur. ur'W ouch vecarty is
Ned M Proext in this Section 34 the Trustee" in dace. regardless of their
number. stud have an the powers panted to the Tnnfees and WWI discharge
all the duties imposed upon the Trustees by "us Declaration. A women indn -
mein aniry rig to austence of such vacancy signed by a majority of Una
Trustees eel be conclusive evidence of the existence of such vacancy.
Section 3.6 Thustaes Serve In Representative Capacity: By executing
Vas Declaration. each Pudic Employer agrees tout the Public Employee Tomes
elected by to Pudic Employers are authorimd to aka M agents aria repreMrr
tetives of the Public Employers aVeotvelY_
ARTICLE IV. POWERS OF TRUSTEES
Section 4.1 Genital Powea: The Trustees shat have the power to conduct
to b usness d the Sum and to carry on its operMOni Such Power rhea irduda
but moll not be Invited to the PMw b:
(a) receive are Truer Property ran the Public Employers, Pudic Employer
Trustees or Otter Tunes of ary Employer Trust:
(b) ewer into a cortract with an Investment Adviser providing, wrong offer
tugs, for to establishment and operation of the Portfolios, salaam of the
Guaranteed Investment Catrwft in Mich the Test Property may be m es ed.
selecem of aher irednMts fix to Trial Property and to payment of mesom
bit bet to the Investment Adviser and to any wbinweerrent adviser stained
by the Irwestrtrrt Adviser;
(c) review armaly to performance of the Investment Adviser and spot"
wady the contract with with Inwadtrarl Adviser:
a rived and s rice to True property in to Portosos. to &MaraMd 10
CdVacs lid in any filar investment reWmnwoed by the Inesthert Adviser,
but not ^acing asaxiMt issued by p ut k Employers prowled true a a Public
Employer has directed that its moats be invested in specified Poo as or
in a Guaranteed Inegmenl Contract. to VLdlm of to Retirement lust shat
iaee such trxx in accordance With such directions:
(e) cheep such portion at to Trial Properly in can or cash edema as to
TnWMft from time to time. nay deem to be in tie bee interest of IM Ralirt
nrnt Jue created tweby. wilroat letter for kMree Vheram;
M accept and relate tune as they may deem advisable any Max-
pas or . doer property 'wed or acquired by them as Trustees Aereund r.
whether or not such securities or cIrw property would normally be purd imed
M kwedrnsnts heraurder;
(W cause Ry aecurlles or other property hold M pen d the:wt Property
ID be registered in to name of the Rebrament lust or in the name of a nom-
net and b hold any uwattinw s'st bearer form, but the books and recordiu
d to Jude" alai at at times am that Y such irwasmreras are a pen of
the cud Property.
(A) meta execute acknowledge. and deliver any and 00 documents of tram
far and conveyance and any and M other iraturnarti to may be necessary
or appropriate b any ow to powers herein gamed:
R w! upon any MILK buds K Other asaxe n. give go— or special PraiM
a powers d attorney with K withae paler d subdnulbn. exerdM any min
version privileges, aubscripion nghs, at other opens, and maw any par
marts ircidaraN tharsfo: apposes or consent tq K otherwise parbapale in.
Corporate Morgarvmios or cow dwhgns enacting corporate securities. and
delegde secretionary powers and pay any assesarrwa or charges in con-
nection therewith: and generally exercise any d Vro powers d an owner with
respect to coca. bads aecuaies K der property haled M pan of the True
P CPO y:
Q enter into contract K arrangements for goods or services required in con-
nection with the operation d the Retirement Tue. inchuding. but not limited
im contracts; with cudodsnt and contracts for the provision of adminidative
aervias:
(k) borrow or raise matey for to purposes of the Rearemwrt True in such
aRCUnt, and upon arh awns and conhtliticrR M the TrustOM >YhM assn advis
able pro,,ded tat the aggregate amount of ouch borrowings shall not exceed
3V%d the Akio of the True Property. No person tending mosey to the VutMs
Well be bound to we the application d the money hem Or fo require into es
va idly. expediency or propriety d cry such bomowirg:
m ircur reasonable expenses M required for to operation of ter Ron a is
Just and dKW such expenses from Vie Just Property;
(m) pay expenses proparty allocable to the Sue Property incurred in connec
ion with tns Desired Campereabon Plans Oust W Panm or the Employer
Sues and deduct Rich expanses from that portion of the Sue PropertY to
whom such expenses are property allocable:
(n) pay out of to flue Property at real and Psraoal progeny taxes. income
faxes and other taxes of any and M kinds which, in the opinion of the Trustees.
we properly leied, a esessed order euaarg o AuMe sous upon, a n respect
d. the True Property and atecede any such texts to the appropriate accounts:
(o) adopt, amanhd and spoof the Brtews. provided tit+ itch Brow" are
at at times caaimnt with the fail of this Declamon of Just:
(p) employ persons to make available ift in the Rebremem True to
w"toyars eligible to maintain a Delened Co npen"atio Plan under Sectim
457 or a Qualified Plan under Section agt of the Interrue Revenue Code, M
amended;
(d me* to Annual Report of the Retirement True. and the disclosure dour
marts and oftle eeralure used by Via Retirement Just:
(n) mole bens ircWdirg to pudase of deal obligations. Provided that an
Such loans Melt bear interest M the Currant market ate:
(s) co trac for and delegate any powers panted hereunder to such dkcers
agent enpldyeM, auditions and storeys M the JueMS may "Got. Prandad
hue to Trustees may not delepee the peers eel forth in paragraphs (b). (c)
and (o) CO true Section 41 and may not delegae ary powers a such delega.
ton weed violate their edaiwV duties:
M piwide b to irdwnnfcaeo d to otcas and:ugm d the PADmrent
Just and purchase iducery inikaerrbe;
(u) maintain boots and records, ndudng asperm accounts for each Public
Employer. Pudic Employer lutes or Enpfoyer Test and ash additional sap
ante accounts as are retprired under and cahodent with. to Deferred Cmr
paaalion or OuahW Plan of each Public Enployar; and
(v) do am such acts, take as such pone I ngs, and exercise all Rich rights
and pmdegea, Although not spatiicaAY mereaed herein. M this luders may
doom necessary a appropriate to administer the cud Pn Win n0 and to arty
out the purposes of the Ro irernex True.
Tarty Ov b made t06 o rt of ltuet Plc�nbution d to Trust Prop
artya4� 6e rthada tk a co Denali d. to Dyer a Pubic Employer
Tiu>IIea in accordance with the tens d tfe compensation Plenc
Qualified Pon or Employer Buda The tugees of to R@hmn re True and
be kav proladed in making Pat nemt in accordance with the directions of
ore Pubic Employers Relic Employer 4hsaes or over, Tmsee of the Employer
Tress wMaa ascertdning whether such payment are in compherce with to
provision Of the Delaned Co penm0on or OuwdW Plea or the egnsenwas
cresting the Employer Buse
Section 4.3 EacWon of InaWmea ; The Trueees may unarimousy,
deelprheee arty area more d tr Bugm to emcW ery buftumxt a door.
mart on behalf of Y. induding but ra roved to the signing or endoraenr it
of any cheek and the spring of any applications insurance and other con
Dew
and the action of Koch designated Trustee or Trusses stall have to
Ken spice and erbct as it taken by as the Trusties.
ARTICLE V. DUTY OF CARE AND LIABILITY OF TRUSTEES
Section 5.1 Duty of Can: In corcising me powers herei before granted to
ma Truelift the Trustees "I perform all act wthin their authority for the
Nckmve purpose Of providing benefit to the Public Employers in conew.
bon with Oeerred Compensation Plan and Pudic Employer Trustees pnsuers
to Qualified Plans, and era perform such act me, to pre skill. prudence
and diligence in the circumstances than prevailing that a prudent person act.
ing in a eke Capacity and familiar with such Maters would use in the conduct
of an enterprise of a We character and with like aunt.
Section 5.2 Llablllty: The Trustees Khan not be bade spr any mistake of IFdg-
men or other action taken in good faith, and for any action taken or ornilted
in reliance in good lath upon to bowls of account or other records d to
Retirement Trust, upon the opinion of counsel, or upon report made to the
Retirement Bus by any of it dicers employees or agent or by the Imies.
"'erg Adviser or any sub-investment advise, accoursans, appraisers or other
expert or consultant selected with reasonable pre by ire Trustees officers
or employees of the Revemen True, The Trustees shall also not be liable for
art loss sustained by the Trust Property by reason d any irweemen made
in good IBM and in a000rdarce with the standard of Care set forth in Section 51.
Section 5.3 Bond: No Trustee shat be obligated to give any band or other
security for the Performance of any of his or her duties hereunder,
ARTICLE VI. ANN&REPORT TO SHAREHOLDERS `
The Suaeeas sMA Sa��M tubrnd to the Public Employers and PuDac Employe
Trusses a written report d th a trsncact , rr d)tr Retirement Trust, ng anan�
dal statements which shall be certified by independem pudic accountant dro.
wen by the Truatsea
ARTICLE VIL DURATION OR AMENDMENT OF RETIREMENT TRUST
Section 7.1 NMbdn vid: A Public Employer or Public Employer Trusee may.
at any tiara **Idnw from tic Rd MMO True by delivering to the Board of
Trustees a written salemen of aaftndnwBl. In such s wrw-t, to public
Employer or Public Employer Suabe ahea acWhdMedge that to Trust Prop
arty allocable to tr Pubic Employer is derived horn compensation delered
by employees of such Pubic Employe pursuers to it Deterred Compera-
tion Plan or from cortribraiorr to the a000uNS of Employees puruant to a
Ouaified Plan. and staff designate the knrcial waaWtidn to which such property
WW be transferred by the Bur ess of ter Retirement Trust or by the Trualae
of the Employer True.
SWUM 7.2 Duration: The Reti enrt Tnst oW continue until samrnnetd
by the date of a meprey of the Pubic Employers, each casing am vote Upon
erminelion, all of the fist Property shall be paid out to the Public Employee.
Pudic Employer Trusses a the Bustees of the Employer Trusts as appropriate
Section 7.3 AmarWmeryt: The Retirement Trust may be mewed by the vote
of a maprity of to Puck Employer, each casing on vole
Section 7.4 Proeedun: A resdubw to tarrrinate or amend the Retirement
Tres a to Wn e a Trustee ere be subrrutW to a date d the Public Employers
t: n a maO* of the Ausees eo dirad, a: (s) a petition requesting a vote.
signed by not less than 25% of the Pudic Employes, t submaed to the
Busses
ARTICLE VIII. MISCELLANEOUS
Section 5.1 Ooyeming Law: Eaeep as otherwise required by sate or local
taw, this Declaration of Bug and the Retiremers Trust hereby created sill be
coi rued and regulated by the laws of the District of Columbia.
Section 5.2 Counterparts: This Declaration may be emwed by me Public
Employers and Buslees in two or more eeuntgpart, each of which gall be
deemed an original but all d which together than constitute one and to same
instrument.
iy P 2 -I G - s'8
igyp, �Ljt
WED 164s ICMA - RC •
ID mead
January 18, 1980
R - 0 1
8839 L VALLEY BOULEVARD ROSEMEAD, CALIFORNIA 91770 (717) 788.6671
RECENED BY
33 1980
Mr. Peter L. DeGroote, General Manager ICNI A - RC
ICMA Retirement Corporation
1101 Connecticut Avenue Northwest
Washington, D. C. 20036
Dear Mr. DeGroote:
The City Council of the City of Rosemead took action at their regular meeting
of November 27, 1979, to adopt Resolution 79-57:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
IN THE MATTER OF ESTABLISHING A DEFERRED COMPENSATION PLAN.
Enclosed herewith, please find the copy of the authorizing Resolution to
participate in the retirement plan and two (2) executed copies of the document
entitled, "International City Management Association Retirement Corporation
Deferred Compensation Plan ".
We would request your consideration of our participation in the Retirement
Corporation at your earliest convenience.
Thank you for your consideration and cooperation.
Sincerely,
- -_.....,..�.. .
RAMC G. TRZPEPI
City Manager
encl.
FGT:wjp
MAYOR:
GARY A. TAYLOR
MAYOR PRO TEM;
MARVIN J. CICHY
COUNCILMEN:
HERBERT R. HUNTER
JAY T. IMPERIAL
LOUIS TURY, JR.
A F k"c -i' 6- 8 8 W E ]J 116 4 e I C M A— R C
RESOLUTION NO. 79- 57
...... 2
RECENED BY
A RESOLUTION OF THE CITY COUNCIL OF THE CITY 02 ROSFP1.F.A[7 --
IN Ti1F. MATTER OF V-;TAH.LI SHING A DF;FrRRPD CO.'yPr:'NSATION PLAN
j %N 3 3 1980
ICMA - RC
WHE1Z1 -'AS, the City of Rosemead has in .its employ certain personnel, and
WHEREAS, said employe
to the City of Rosemead, es are and will be rendariny valuable services
WHEREAS, the City Council has considered the establishment of a
Deferred Compensation Plan for the said employees made available to the
City Council and to said employees by the International City Management A sociation
Retirement Corporation, and
WRF:RrAS, said employees often are unable to acquire rotireme,nt security
under other existing and available retirement plans due to the contingencies
of employrent mobility, and
WHEREAS, the City Of Rosemead receives benefits under said Plans by boi.ng
able to assure reasonable retirement security to said employees, by being nore
able to attract competent personnel to its service, and by increasing its
flexibiltiy in personnel management through elimination of the need for continued
employment for the sole purpose of allowing an employes
benefits. to qualify for retirement
NOW, THFREPORE, ER IT RESOLVED that the City CotUncil establish sr.i.d
Deferred Compensation Plan for said employees and hereby authorizes its
Mayor to execute the Deferred Compensation Plan with the International City
Management Association Retirement Corporation, attached hereto as Appendix p.;
IT IS FURTHER RESOLVED that the City Manager may, on behalf of the
City Council, execute all Joinder Agreements with said employees and other
eligible officials and officers, which are necessary for said persons pat•tic.i.put:i.Qn
in the plan, an example of which appears at Appendix ii, except that any Joind.r
Agreement for said designates} official shall be executed by the Mayor.
PASSED, APPROVED AND ADOPTL•-D Tills `27th _ day of November
ATTEST;
n r n.v Jq VGV -.y1.Y
l
MAYOR OF•'5118 CITY OF RO�EHRAD
A P F? -• _ 5— S S W E D
N
INTERNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
DEFERRED COMPENSATION PLAN
Amended as of June 28, 1974 and March 23, 1979
Appendix A
RECEIVED Fay
J't.r 14 3 1980
ICMA - RC
It Is hereby agreed that this DEFERRED COMPENSATION PLAN shall be In effect on the date upon which the Employer has caused It to ba
executed by an o8lclal affixing his signature on behalf of the Govorning Body In the space provided below. However, the DEFERRED
COMPENSATION PLAN well not be legally binding upon the international City Management Assocletlon Retirement Corporation until a Notico of
Plan Acceptance has been supplied by it.
_ CITY OP ROSEMEAD
Legal Nanlis of the Empl
Attest for the Employer: For the Empl
By
S' slur¢ of uthodzed O� iel Ignalure of Au ii tl Offiolgl
• c27 /�7Q
bate of Signature y
.GARY A. TAYLOR, MAYOR
Print Name and Title
SEE INSTRUCTIONS FOR IMPLEMENTATION PRIOR TO COMPLETING THIS SECTION
Complete the following prior to mating this Agreement to the Retirement Corporation
Fun Name (City of, County of, etc.) City of Rosemead
Title of Official to whom correspondence and reports are to be mailed
(not name) I City Manager
Address: (Include zipcode) 8838 East Valley Boulevard, Rosemead 91770
Ir
Employers' Federal Tax Identification Number: 95- 2079994
How often will you make contributions? ei- weekly
What is the date of your first contrlbutlon? Unknown
Total Number of Employees:. 42 Number of employees eligible to participate: 42
- A P �•� b- 8 8 WED 1 4 9 I C M A- R C R. 04
S
NOTICE
OF
PLAN
ACCEPTANCE
ICMA
RETIREMENT
CORPORATION
Effective Date:
1110t
Area Code 202
January 23, 1980
Connecticut
293.2716
Avenue
Toll Free 800
Account Number:
Northwest
424 -9249
934- 3
Washington DC
20036
City Manager
City of Rosemead
8838 E Valley Boulevard
Rosemead, CA 91770
We have received your signed plan document and accepted your participation
In the ICMA Retirement Corporation deferred compensation plan effective on the
above date. Please note your employer account number. Each employee who
enrolls in the plan will receive.an individual account number prefixed by this
number. If you have any questions, please call us on our toll free number.
For the ICMA Retirement Corporatio . Peter L. Der to
Title: President
Date: January 29, 1980