HomeMy WebLinkAbout2021-048 Additional Employment Retirement Plans
RESOLUTION NO. 2021-48
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ESTABLISHING ADDITIONAL EMPLOYMENT
RETIREMENT PLANS TO BE ADMINISTERED BY NATIONWIDE
RETIREMENT SOLUTIONS, INC.
WHEREAS, the City has employees rendering valuable services; and
WHEREAS, the establishment of additional retirement plans for such employees serves
the interests of the City by enabling it to provide reasonable retirement security for its employees,
by providing increased flexibility in its personnel management systems, and by assisting in the
attraction and retention of competent personnel; and
WHEREAS, the City has determined that the establishment of additional retirement plans
to be administered by Nationwide Retirement Solutions, Inc. serves the above objectives; and
WHEREAS, the City desires that the investment of funds held under its additional
retirement plans be administered by Nationwide Retirement Solutions, Inc, with the
understanding that such funds will be held by Nationwide Retirement Solutions, Inc., a Delaware
corporation and an affiliate and subsidiary of Nationwide Financial Services, Inc.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The City Council hereby adopts the documents necessary to implement the
additional retirement plans for the participation of eligible employees.
SECTION 2. The City Council selects Nationwide Retirement Solutions, Inc. to administer
these additional retirement plans.
SECTION 3. The City Council authorizes and directs the City Manager and his designees
to take the actions necessary to implement this Resolution.
Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore,
California, this 27th day of April 2021.
Robert E. Magee
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
DocuSign Envelope ID: 73F70AAC-0CE4-4A97-AE2C-AFB2C0EF7466
CC Res. No. 2021-48
Page 2 of 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2021-48 was adopted by the City Council of the City of Lake Elsinore, California,
at the Regular meeting of April 27, 2021 and that the same was adopted by the following vote:
AYES: Council Members Tisdale, Johnson, and Manos; Mayor Pro Tem Sheridan; and
Mayor Magee
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC
City Clerk
DocuSign Envelope ID: 73F70AAC-0CE4-4A97-AE2C-AFB2C0EF7466