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1 <br />2 <br />3 <br />4 <br />s <br />6 <br />7 <br />8 <br />91 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-140-04 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, <br />CALIFORNIA, AMENDING THE ADMINISTRATIVE SERVICES <br />AGREEMENTS FOR THE ICMA RETIREMENT PLAN NUMBERS 302774 <br />AND 108507 <br />WHEREAS, The City of Colton sponsors the ICMA Retirement plans on behalf of the <br />City's eligible employees and retirees; and <br />WHEREAS, the City of Colton entered into Agreement to engage the ICMA <br />Retirement Corporation to provide administrative services and investments for the ICMA <br />Retirement plan under the terms specified in the Administrative Services Agreement; and <br />WHEREAS, the City of Colton and the ICMA Retirement Corporation wish to amend <br />the Administrative Services Agreements to provide for a reduction of the ICMA Retirement <br />plans administration fee and elimination of the Mutual Funds Fee under the Administrative <br />Services Agreements for the ICMA Retirement plans over the term of the Administrative <br />Services Agreements contingent on the Employer's use of EZI-ink for enrollment and <br />contribution processing over the term of the Administrative Services Agreements. <br />NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: <br />Section 6 of the Administrative Services Agreement, titled "Compensation and <br />Payment" is amended by replacing subsections (a) and (d) with the following: <br />(a.) Plan Administration Fee. The amount to be paid for plan administration services <br />under this Agreement shall be 0.29% of the amount plan assets invested in the <br />Trust. <br />Such fee shall be computed based on average daily net Plan assets in the Trust. <br />Reso ICMA plan amend 120704 <br />Page 1 of <br />