City of Racine - File #: 1254-17

• File #: 1254-17
• Version: A
• Name: Communication from the Finance Director requesting to add Standard Retirement Services, Inc. as a Section 457B provider for deferred compensation and termination of Security Benefits as a Section 457B provider for deferred compensation.
• Type: Communication
• Status: Passed
• File created: 12/14/2017
• In control: Finance and Personnel Committee
• Final action: 1/17/2018
• Title: Subject: Communication from the Finance Director requesting to add Standard Retirement Services, Inc. as a Section 457B provider for deferred compensation and termination of Security Benefits as a Section 457B provider for deferred compensation. Recommendation of the Finance & Personnel Committee on 01.08.2018: The City add Standard Retirement Services, Inc. as a Section 457B provider for deferred compensation and terminate Security Benefits as a Section 457B provider for deferred compensation as negotiated and agreed to in the 2018-2020 Racine Police Association Collective Bargaining Agreement. Fiscal Note: There are minimal administrative costs associated with the switch over of providers which are basically covered in the 2018 Operating Budget.

Date	Ver.	Action By	Action	Result
1/17/2018	A	Common Council	Approved as Presented	Pass
1/8/2018	A	Finance and Personnel Committee	Recommended For Approval	Pass
12/20/2017	A	Common Council	Referred	Pass

Title

Subject: Communication from the Finance Director requesting to add Standard Retirement Services, Inc. as a Section 457B provider for deferred compensation and termination of Security Benefits as a Section 457B provider for deferred compensation.

Recommendation of the Finance & Personnel Committee on 01.08.2018: The City add Standard Retirement Services, Inc. as a Section 457B provider for deferred compensation and terminate Security Benefits as a Section 457B provider for deferred compensation as negotiated and agreed to in the 2018-2020 Racine Police Association Collective Bargaining Agreement.

Fiscal Note: There are minimal administrative costs associated with the switch over of providers which are basically covered in the 2018 Operating Budget.