92-7954R
1
RESOLUTION NO. 7954
RESOLUTION ADOPTING ADMINISTRATIVE SERVICES AGREEMENT
BETWEEN THE CITY OF RICHFIELD AND THE ICMA RETIREMENT
CORPORATION TO REPLACE AN AGREEMENT ENTITLED "TRUST
AGREEMENT WITH THE ICMA RETIREMENT CORPORATION"
WHEREAS, the ICMA Retirement Corporation administers a
deferred compensation plan for certain employees of the City of
Richfield; and
WHEREAS, the ICMA Retirement Corporation desires to replace
its agreement with the City of Richfield entitled, "Trust
Agreement with the ICMA Retirement Corporation" with a new
Administrative Services Agreement; and
WHEREAS, the ICMA Retirement Corporation feels the "Trust
Agreement" no longer provides an accurate portrayal of the
current relationship between the ICMA Retirement Corporation and
the City of Richfield; and
WHEREAS, the new Administrative Services Agreement provides
a more accurate and up-to-date description of the existing
relationship between the ICMA Retirement Corporation and the City
of Richfield.
NOW, THEREFORE, BE IT RESOLVED:
1. The City consents to and enters into the Administrative
Services Agreement to replace the "Trust Agreement with the ICMA
Retirement Corporation."
2. The City declares
Agreement is not intended
the deferred compensation
plan. Nor is it intended
actually provided by ICMA
actually charged by ICMA
the administration of the
that the Administrative Services
to affect in any way the investments of
plan or the benefits payable under the
to change in any way the services
Retirement Corporation or the fees
retirement Corporation with respect to
plan.
Passed by the City Council of the City of Richfield this
14th day of December, 1992.
ATTEST:
Thomas P. Ferber City Clerk
G~---
Martin J. it c Mayor