Resolution 2026-030
May 20, 2026
RESOLUTION NO. 2026-030
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CORONA APPROVING AMENDMENTS TO
THE ADMINISTRATIVE SERVICES AGREEMENTS
WITH NATIONWIDE RETIREMENT SOLUTIONS
CONCERNING THE CITY OF CORONA 457(B) AND
401(A) DEFERRED COMPENSATION PLANS
WHEREAS, the City of Corona (“City”) sponsors eligible deferred compensation plans in accordance with Sections 457(b) and 401(a) of the Internal Revenue Code; and
WHEREAS, on September 1, 2021, the City Council adopted Resolution No. 2021-090, designating Nationwide Retirement Solutions (“Nationwide”) as the sole service provider for the City’s deferred compensation plans in order to provide a cost savings to employees and retirees for the same level of services; and WHEREAS, the City now desires to amend its Administrative Services Agreements (“Agreements”) with Nationwide for both the 457(b) and 401(a) plans, in order to reduce fees to plan participants and extend the terms of the Agreements;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
CORONA DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1.
Amendments. The City Council hereby approves the First Amendments to Administrative Services Agreements for both the 457(b) plan and the 401(a) plans.
SECTION 2.
Authorization. The City Council hereby authorizes the City Manager, or his or her designee, to execute the First Amendments to the Administrative Services Agreements on behalf of the City, along with any future amendments that contain only non-substantive and/or administrative changes to the plan documents, and any other documents necessary for the effective implementation of the Plans.
PASSED, APPROVED, AND ADOPTED 20th day of May, 2026.
Mayor of the City of Corona, California
Resolution 2026-030
May 20, 2026
ATTEST:
Sylvia Edwards, City Clerk
City of Corona
CERTIFICATION
I, Sylvia Edwards, City Clerk of the City of Corona, California, do hereby certify that the foregoing Resolution 2026-XX was regularly introduced and adopted by the City Council of the City of Corona, California, at a regular meeting thereof held on the 20th day of May, 2026 by the following vote of the Council:
AYES:
NOES:
ABSENT:
ABSTAINED:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Corona, California, this 20th day of May, 2026.
Sylvia Edwards, City Clerk
City of Corona