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SITE NAVIGATION

Boards and Commissions

Defined Contribution Plans Committee

Boards and Commissions

Defined Contribution Plans Committee

The Defined Contribution Plans Committee was formed by resolution and was established to assist the City with the oversight and governance of the City's 401(a), 457(b), and Health Reimbursement Arrangement plans ("Plans"). The responsibilities of the committee are as follows: 1) Develop an Investment Policy Statement for the Plans, and recommend approval of that statement by the City Council; 2) Annually review the Investment Policy Statement for the Plans, including an assessment of the available asset classes; 3) Annually review the Fee and Expense Policy Statement for the Plans; 4) Annually review Summary Plan Descriptions; 5) Selection of investment options, monitoring of the performance of investments options, and termination, replacement and addition of investment options offered under the Plans; 6) Evaluation and voting of prescribed investment option proxies as required; 7) Evaluation, recommendation, and monitoring of third parties that provide services to the Plans; 8) Review of potential amendments to the Plans, and make recommendations to the City Council; 9) Ensure the service provider(s) to the Plans are providing appropriate education and other services to plan participants; 10) Stay apprised of industry standards and best practices to discharge their functions as Committee members; and 11) Maintain all necessary records for the administration of the Plans.

Committee details and roster

City Council Resolution to Authorize the Formation of the Defined Contribution Plans Committee

Defined Contribution Plans Committee Bylaws, Fee and Expense Policy Statement, and Investment Policy Statement

List of the City's Defined Contribution Plans (457, 401a, RHSA)

Meeting agendas are posted on the City Clerk's Meetings and Agendas webpage.

Meeting materials from December 10, 2020, to current are now available on the City Clerk's Meetings and Agenda webpage by clicking Upcoming Meetings then Defined Contribution Plans Committee under the Archived Meetings section.