Meeting Type: BCC Regular Meeting
Meeting Date: 4/16/2019
Item Status: New
From: Deidra Hanak, Personnel Director
Submitted by: Deidra Hanak, Personnel Director
______________________________________________________________________
ITEM TITLE
Title
Approval of a Corrected Nationwide Retirement Solutions Contract Amendment
Body
STAFF RECOMMENDATION
Recommendation
Take the following actions:
1) Approve an amendment to the Nationwide Retirement Solutions Contractual Agreement and authorize the Chairman to execute Amendment concerning the group flexible purchase payment deferred fixed annuity; and
2) Authorize the Chairman execute any other related documents as necessary.
End
BACKGROUND INFORMATION
Previous Commission action/date: N/A
Background: During the December 18, 2018, Regular Meeting, the Commission approved a contractual amendment to the Nationwide Retirement Solutions Contractual Agreement concerning the Group Flexible Purchase Payment Deferred Fixed Annuity Contract. Due to an incorrect Fixed Account Amendment, Nationwide Retirement Solutions requested a signed copy of the corrected amendment. The corrected amendment gives Nationwide the authority to implement the rate adjustment per our election.
FINANCIAL IMPACT
Total cost of recommendation: N/A
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Personnel
Action required (list contact persons/addresses if documents are to be mailed or emailed): N/A
Additional instructions/notes: N/A