R-2022-051
2
3
4
5
6
7
8
9
RESOLUTION 2022---
A RESOLUTION OF THE MAYOR AND COUNCIL OF MIAMI
SHORES VILLAGE, FLORIDA, AUTHORIZING THE ADDITION
OF .A 457 DEFERRED COMPENSATION PROVIDER AND
APPROVAL OF PLAN DOCUMENT FOR MIAMI SHORES
VILLAGE; PROVIDING FOR AN EFFECTIVE DATE.
10 WHEREAS, Miami Shores Village (the "Village") has sponsored a deferred compensation
11 plan under Section 457(b) of the Internal Revenue Code; and,
12
13 WHEREAS, the Village has contracted with ICMA Retirement Corporation (now known as
14 Mission Square) and AIG-Valic to provide investment and management services for the plan; and
15
16 WHEREAS, the Village desires to provide an additional retirement services provider for
17 employee personnel investment by adding Morning Star Investment Management LLC
18 (Nationwide); and
19
20 WHEREAS, the plan(s) is voluntary with funds held in a trust under three individual
21 deferred compensation plans with the Village serving as trustee for the exclusive benefit of the
22 Plan participants; and,
23 WHEREAS, the Village hereby agrees to continue serving as trustee of the three deferred
24 compensation plans.
25
26 NOW, THEREFORE BE IT RESOLVED BY THE MAYOR AND VILLAGE COUNCIL OF
27 MIAMI SHORES VILLAGE, FLORIDA, AS FOLLOWS:
28
29 1.The Village Council approves the additional provider and adopts the form 457 Plan
30 and Trust from Morning Star Investment Management LLC / Nationwide plan
31 document attached hereto
32 2.The Village Manager is authorized and directed to execute the plan document to the
33 administrator of the Morning Star Investment Management LLC / Nationwide Plan.
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
Effective Date. This resolution shall become effective immediately upon adoption hereof.
PASSED and ADOPTED this 5th day of April, 2022.
� )l lZ Omar Bradford
........ , ... .. '
...........
Sandra Harris, Mayor
49 Interim Village Attorney
05