TO: RULES AND OPEN
GOVERNMENT COMMITTEE
FROM: Aram Kouyoumdjian
SUBJECT: Deferred Compensation
Advisory Committee
Appointment
DATE: April 1, 2025
Approved Date:
4/8/2025
COUNCIL DISTRICT: Citywide
RECOMMENDATION
(a) Approve the appointment of Andrew Gardanier as the nominee by the International Association for Firefighters, Local 230 (IAFF) to the Deferred Compensation Advisory Committee (DCAC) for the remainder of a four-year term, beginning April 22, 2025 and ending on March 1, 2029. (b) Place the item on the April 22, 2025, City Council Agenda for action.
SUMMARY AND OUTCOME
Approval of this recommendation will allow the DCAC to continue to do business and meet as a full committee at its next meeting on June 16, 2025.
BACKGROUND
The DCAC oversees the investments of the City’s voluntary Deferred Compensation Plan and PTC Deferred Compensation Plan (Plans). The DCAC has the authority to make decisions on behalf of the City as to the investment policy, the choice and nature of investments to be available under the Plans, and enter into agreements on behalf of the City for investment advice under the Plans where the fees to be paid under such an agreement are to be paid by participants of the Plans or where there is no amount to be paid by the City under the agreement. The DCAC shall have the authority to review and advise the City Manager on annual budgets and proposed changes to the Plans. The Plans currently consist of approximately 16,257 participants and include active employees, former employees, retirees, and holds approximately $1.5 billion in assets.
RULES COMMITTEE: 4/16/25
ITEM: B.2
HONORABLE MAYOR AND CITY COUNCIL
April 1, 2025
Subject: Deferred Compensation Advisory Committee Appointment
Resolution No. 70176, dated February 27, 2001, requires that the DCAC be composed of seven members: two appointed by the City Manager; one recommended by the management employees; one recommended by the POA; one recommended by the IAFF, Local 230; one recommended by the employee organizations affiliated with the American Federation of State, County, and Municipal Employees, and one recommended by the trades employee organizations. Each member normally serves a four-year term and must be a participant in the Deferred Compensation Plan. There is no limit on the number of terms a member can serve on the DCAC. As a City Councilappointed committee, appointments to the DCAC must first be approved by the Rules Committee before being recommended to the City Council.
ANALYSIS
Mr. Gardanier is a current participant in the Deferred Compensation Plan. The term for the IAFF seat expired on March 1, 2025 and is currently vacant. IAFF was asked for nominations from their organization for the City Council’s approval and appointment to their member’s four-year term on the DCAC. On February 24, 2024, Andrew Gardanier’s nomination was received from IAFF.
EVALUATION AND FOLLOW-UP
Whenever terms of the members are due to expire or a seat becomes vacant, a recommendation will be presented to the City Council to appoint nominees to fill those seats on the DCAC. The recommendation will allow the DCAC to continue to do business by having a quorum at its next meeting on June 16, 2025.
COORDINATION
This memorandum has been coordinated with the City Attorney’s Office and the City Clerk’s Office.
PUBLIC OUTREACH
The key stakeholders were invited to nominate a candidate for appointment to the DCAC.
COMMISSION RECOMMENDATION AND INPUT
No commission recommendation or input is associated with this action.
HONORABLE MAYOR AND CITY COUNCIL
April 1, 2025
Subject: Deferred Compensation Advisory Committee Appointment
CEQA
Not a Project, File No. PP17-010, City Organizational and Administrative Activities resulting in no changes to the physical environment.
PUBLIC SUBSIDY REPORTING
This item does not include a public subsidy as defined in section 53083 or 53083.1 of the California Government Code or the City’s Open Government Resolution.
Aram Kouyoumdjian
Director of Human Resources and the City
Manager’s Office of Employee Relations
For questions please contact Amy Morton, Senior Benefits Analyst, Human Resources at [email protected] or (408) 975-1425.