Title:
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Deferred Compensation 457(b) and 401(a) Plans Consolidation and Conversion to MassMutual
Recommended Action:
It is recommended that the City Council authorize the City Manager to rescind Resolution 89-94 and Resolution 94-92, which established ICMA and Nationwide as the providers of a 457(b) deferred compensation plan, as well as rescind Resolution 96-64 naming Nationwide as the provider of the 401(a) plan. Further, it is recommended that the City Council, adopt Resolution No. 2019-07, authorizing the current employees’ Deferred Compensation 457(b) and 401(a) plans to be consolidated and converted to MassMutual.
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