Title
Resolution No. 2024-16: Appointing the City Manager as the Plan Administrator for the Public Agency Retirement Services (PARS), and Delegating Authority to the City Manager to Administer Other Employee Benefit Plans
Recommendation
a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly;
b) Adopt Resolution No. 2024-16, A Resolution of the City Council of the City of Newport Beach, California, Appointing the City Manager as the Plan Administrator for the Public Agency Retirement Services (PARS), and Delegating Authority to the City Manager to Administer Other Employee Benefit Plans; and
c) Authorize the City Manager to negotiate and execute the documents to implement the 401(a) Defined Contribution Plan with Empower Trust Company, LLC.