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Res89 11093
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Res89 11093
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Last modified
10/11/2019 1:52:04 PM
Creation date
10/11/2019 1:52:01 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Date
7/24/1989
Description
RES 0 L UTI 0 N N O. 11093 ORiGINAL RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF JUL 2 4 ~ AGREEMENT WITH GREAT WESTERN SAVINGS BANK FOR ~ ADMINISTRATION OF A DEFERRED COMPENSATION PLAN FOR THE CITY OF REDWOOD CITY
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<br />13. Other invesbrent vehicles whim will be provided to the PIAN are <br />described on the attached smedule 1. <br /> <br />(1) If applicable, PIAN funds invested in mutual furrl options will <br />utilize Great Western Financial Securities Corporation, a wholly <br />a.-med subsidiary of Great Western Financial Corporation, as the <br />Broker/Dealer for sum transactions. <br /> <br />(2) If applicable, SinJle Premitnn Innnediate Annuities and other <br />armuity products purchased by AGENCY pursuant to PIAN will be <br />issued and guaranteed by Great Western Insurance Company, a <br />wholly owned subsidiary of Great Western Financial Corporation, <br />or such other life insurance company selected by Great Western. <br /> <br />(3) Certain invesbnent vehicles may impose sales charges. These <br />sales charges will be disclosed in the prospectus or insurance <br />contract, whichever is applicable. <br /> <br />(4) GREAT WESTERN may, from time to time, offer to perfonn the herein <br />described services for additional and/or alternate investment <br />vehicles upon written agreement between GREAT WESTERN and AGENCY. <br /> <br />7. ENROllMENT SERVICES: GREAT WESTERN agrees to process, or arrange to have <br />processed, the enrollment of eligible employees who elect to participate in <br />the PIAN. GREAT WESTERN agrees to provide infonnational and promotional <br />material pursuant to the PIAN for distribution to employees of AGENCY, <br />subj ect to approval of such material by AGENCY, sum approval not to be <br />rmreasonably withheld. AGENCY agrees to allCM and facilitate the periodic <br />distribution of SUdl material to employees. <br /> <br />GREAT WESTERN agrees to conduct, or arrange to have coooucted, group <br />presentations periodically for employees of AGENCY, to explain the PIAN. AGENCY <br />agrees to facilitate the sC'hedulinJ of such presentations and to provide <br />facilities at which satisfactory atterx:lance can be expected. GREAT WESTERN <br />agrees that qualified personnel will be made available periodically to discuss <br />the PIAN with irrlividual employees of AGENCY. <br /> <br />8. TITLE AND OONERSHIP: AGENCY shall at all times be the unrestricted owner <br />of all PIAN assets, in accordance with IRe 457 provisions. <br /> <br />9. PRIVTI'Y OF CDNTRAcr: GREAT WESTERN shall have no privity of contract with <br />PIAN participants. GREAT WESTERN agrees not to accept or honor <br />instructions which may be submitted by participants without written <br />authorization from AGENCY. <br /> <br />- 5 - <br /> <br />11093 <br />
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