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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of <br />TO: Honorable Mayor and City Council PYFROM: GORDON R. JOHNSON, PERSONNEL DIRECTOR <br />ate: 06-27-91 <br />SUBJECT: ADOPTION OF RESOLUTION APPOINTING RIC D E. ACEVEDO AS <br />DEFERRED COMPENSATION PLAN ADMINISTRATOR <br />BACKGROUND: On June 18, 1991, Edmund Sotelo, City Manager, <br />resigned his employment with the City of Colton. Mr. Sotelo had <br />been designated as Colton's deferred compensation plan <br />administrator with authorization to sign all documents pertaining <br />to the program. <br />STATEMENT OF THE PROBLEM: Prior to his termination, Mr. Sotelo <br />designated Richard Acevedo, Finance Director, as the new plan <br />administrator. J & W Seligman, one of our deferred compensation <br />plan investment options which provides a cash management system, <br />has requested a copy of a formal resolution naming the individual <br />in charge. <br />ALTERNATIVES: None <br />FINANCIAL IMPACT: None <br />ENVIRONMENTAL IMPACT: None <br />RECOMMENDATION: Staff recommends Council adoption of the attached <br />resolution appointing Richard Acevedo, Finance Director, as the <br />deferred compensation plan administrator. <br />Concur <br />Ci4 Manager <br />Attachments: <br />Page 1 of— <br />Item No. k <br />CENTRAL RECORDS <br />