CITY COUNCIL COMMITTEES, COMMISSIONS, BOARDS
Reviewed and Re-appointed/Re-designated 04-13-22
EVMWD Ashlee DePhillippo
Joseph Morabito
Meets on the second Monday of every other month at 8:00 a.m. at either their offices or City Hall (rotates every other month)
___________________________________________________________________________ Intergovernmental Relations Subcommittee Ben Benoit
Ashlee DePhillippo
___________________________________________________________________________ Lake Elsinore Unified School District Bridgette Moore
Dustin Nigg
___________________________________________________________________________ Franchise Subcommittee Ben Benoit
Ashlee DePhillippo
___________________________________________________________________________ Finance Subcommittee Ben Benoit
Dustin Nigg
REGIONAL COMMITTEES, COMMISSIONS, BOARDS
League of California Cities Dustin Nigg, Voting Delegate Meets annually at the League Annual Conference. Ben J. Benoit, Alternate ___________________________________________________________________________ PARSAC Robert Howell, Director
Meets in May and December in Sacramento. Janet Morales, Alternate ___________________________________________________________________________ RCA Ben J. Benoit
Western Riverside County Regional Conservation Authority Joseph Morabito, Alternate Meets the first Monday of each month at 1:00 p.m. at the County Administration Center, Board of Supervisors Chambers, 4080 Lemon Street, Riverside.
___________________________________________________________________________ 590
RCHCA Joseph Morabito
Riverside County Habitat Conservation Agency Dustin Nigg, Alternate Meets the third Thursday Quarterly at 11:00 a.m. at the WRCOG office, 3390 University Ave., Suite 200, Riverside.
__________________________________________________________________________ RCTC Ben J. Benoit
Riverside County Transportation Commission Joseph Morabito, Alternate Meets the second Wednesday of each month at 9:30 a.m. at the County Administration Center, Board of Supervisors Chambers, 4080 Lemon Street, Riverside. ___________________________________________________________________________ RTA Bridgette Moore
Riverside Transit Agency Joseph Morabito, Alternate
Meets the fourth Thursday of each month at 3:00 p.m. at the County Administration Center, Board of Supervisors Chambers, 4080 Lemon Street, Riverside. ___________________________________________________________________________ SCAG Joseph Morabito
Southern California Association of Governments Dustin Nigg, Alternate Meets annually in June of each year.
___________________________________________________________________________ Southwest Community Financing Authority Joseph Morabito (Animal Shelter) Dustin Nigg, Alternate
Meets as needed.
___________________________________________________________________________ WCE Ben J. Benoit
Western Community Energy Dustin Nigg, Alternate
Meets the second Wednesday of each month at 1:00 p.m. at the WRCOG office, 3390 University Ave., Suite 200, Riverside.
___________________________________________________________________________ WRCOG Ben J. Benoit
Western Riverside Council of Governments Dustin Nigg, Alternate Meets the first Monday of each month at 2:00 p.m. at the County Administration Center, Board of Supervisors Chambers, 4080 Lemon Street, Riverside.
591
CITY OF WILDOMAR
CC - REGULAR MEETING
GENERAL BUSINESS
Agenda Staff Report # 3.3
Meeting Date: December 14, 2022
SUBJECT: 401(a) Governmental Deferred Compensation through MissionSquare Retirement (formally ICMA-RC)
SUBMITTED BY: Robert Howell
PREPARED BY: Robert Howell, Administrative Service Director ACTION:
Adopt a Resolution entitled:
RESOLUTION NO. 2022 - _____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, IMPLEMENTING A 401(A) GOVERNMENTAL DEFERRED COMPENSATION PLAN
THROUGH MISSIONSQUARE RETIREMENT
SUMMARY:
In order for the City of Wildomar to contribute the stipulated amount in the City Manager's contract and allow the City Manager to maximize the amount of contributions from his biweekly pay the City has to establish a 401(a) Defined Contribution Plan. This plan would be established for only the City Manager with the express purpose of making the stipulated eight percent contributions in the City Manager's contract.
BACKGROUND:
Founded in 1972 through the assistance of a Ford Foundation grant, MissionSquare Retirement's mission is to help public sector employees build retirement security. It all began when the International City/County Management Association (ICMA) had the vision to create an organization dedicated to the retirement needs of public sector employees, and thus MissionSquare (formally ICMA-RC) Retirement was formed. MissionSquare Retirement was founded to provide portable retirement benefits for city and county managers, enabling accumulated retirement assets to be transferred between employers. Today, MissionSquare Retirement serves more than 1.5 million participant accounts and approximately 9,800 plans across the country.
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The 401(a) Defined Contribution Plan is a type of tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-for-profit organizations in the United States. The employer provides the plan and may provide an employer contribution.
Depending on the terms of the Plan employees may be required to contribute as well on a pretax basis. The City also has an established 457(b) Plan, which employees contribute on a voluntary basis.
At times organizations utilize both a 457(b) Plan with a 401(a) Plan to maximize contributions an employee may make (457(b)) and receive contributions from employers to (401(a)). One key difference between the two Plans is that unlike with a 457(b) plan withdrawal, the 401(a) Plan has a 10% penalty on withdrawals before the age of 59½ (although the withdrawal is subject to ordinary income taxation).
DISCUSSION:
The City Manager's Contract stipulates an eight percent contribution from the City to a Deferred Compensation Plan. The City Manager already has an established 457(b) Deferred Compensation account for which he has in the past fully contributed to. He desires to continue fully contributing to his 457(b) account. In order to maximize the deferred compensation contributions for the City Manager and meet the stipulations in his contract, a 401(a) Defined Contribution Plan needs to be established.
Staff has researched possible plans from multiple investment advising companies. After consideration staff has determined that the best option for the establishment of a 401(a) Defined Contribution Plan is with MissionSquare Retirement (formally ICMA-RC).
The establishment of a 401(a) Defined Contribution Plan would at this time be limited to the City Manager for the express purpose of making the City's 8% contribution as stipulated in his contract. In the future the City Council could change the percentage contribution for the City Manager's position and/or add other positions and contribution rates to the Plan.
FISCAL IMPACT:
There is a 0.55% Plan Administration Fee per year based on the amount of Plan assets invested in the 401(a) Plan.
ACCOUNT CODE:
100-410-4200-52119
ATTACHMENTS:
MissionSquare 401(a) Resolution.docx
MissionSquare Retirement 401(a) Agreement.pdf
593
RESOLUTION NO. 2022-_____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WILDOMAR, CALIFORNIA, ACCEPTING THE 401(A) GOVERNMENTAL DEFERRED
COMPENSATION PLAN THROUGH MISSIONSQUARE RETIREMENT
WHEREAS, the establishment of a deferred compensation plan for such employees serves the interests of the City of Wildomar by enabling it to provide reasonable retirement security for its employees; and
WHEREAS, the City of Wildomar has determined that the establishment of a deferred compensation plan, to be administered by the International City Management Association Retirement Corporation doing business as MissionSquare Retirement, a nonprofit corporation, serves the above objectives; and WHEREAS, the City of Wildomar desires that its deferred compensation plan be administered by the MissionSquare Retirement, and that some or all of the funds held under such plan be invested in the VantageTrust Company, a trust established by public employers for the collective investment of funds held under their retirement and deferred compensation plans.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Wildomar hereby adopts the 401(a) defined compensation plan in the form of the MissionSquare Retirement 401(a) Defined Contribution Plan.
BE IT FURTHER RESOLVED that the City Council of the City of Wildomar hereby executes the Declaration of Trust of the VantageTrust Company, intending this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the Employer, if the assets of the plan are to be invested in the VantageTrust Company.
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the City of Wildomar serving as Trustee, for the exclusive benefit of the Plan participants and their beneficiaries, and the assets shall not be diverted to any other purpose. 594
BE IT FURTHER RESOLVED that the City of Wildomar hereby agrees to serve as Trustee under the 401(a) Defined Contribution Plan.
BE IT FURTHER RESOLVED that the Administrative Services Director or his/her Designee shall be the coordinator for this program; shall receive necessary reports, notices, etc. from the MissionSquare Retirement corporation or the VantageTrust Company; shall cast, on behalf of the City of Wildomar, any required votes under the VantageTrust Company; Administrative duties to carry out the plan may be assigned to the appropriate departments, and is authorized to execute all necessary agreements with ICMA Retirement corporation incidental to the administration of the 401(a) plan.
NOW, THEREFORE, BE IT RESOLVED, the City Council does hereby accept the 401(a) Governmental Defined Compensation Plan through MissionSquare Retirement.
PASSED, APPROVED AND ADOPTED this 14th day of December, 2022.
Joseph Morabito
Mayor Pro-Tem
APPROVED AS TO FORM: ATTEST:
Thomas D. Jex Janet Morales, CMC
City Attorney City Clerk
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ADMINISTRATIVE SERVICES AGREEMENT
for
City of Wildomar
Type: 401
Account #: 100358
DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 596
MissionSquare Retirement Agreement 1 of 12
ADMINISTRATIVE SERVICES AGREEMENT
This Administrative Services Agreement (“Agreement”), made as of this day, (please enter date) ____________________________________, (herein referred to as the "Inception Date"), between the International City Management Association Retirement Corporation doing business as MissionSquare Retirement (“MissionSquare”), a nonprofit corporation organized and existing under the laws of the State of Delaware, and the City of Wildomar (“Employer”), an Entity organized and existing under the laws of the State of California with an office at 23873 Clinton Keith Road, Wildomar, California 92595.
RECITALS
Employer acts as public plan sponsor of a retirement plan (“Plan”), and in that capacity, has responsibility to obtain administrative services and investment alternatives for the Plan;
VantageTrust is a group trust established and maintained in accordance with New Hampshire Revised Statutes Annotated section 391:1 and Internal Revenue Service Revenue Ruling 81-100, 1981-1 C.B. 326, which provides for the commingled investment of retirement funds;
MissionSquare, or its wholly owned subsidiary, acts as investment adviser to VantageTrust Company, LLC, the Trustee of VantageTrust; MissionSquare has designed, and VantageTrust Company offers, a series of separate funds (the “Funds”) for the investment of plan assets as referenced in the Funds’ principal disclosure documents, which are the Disclosure Memorandum and the Fact Sheets (together, “MissionSquare Disclosures”); and MissionSquare provides a range of services to public employers for the operation of employee retirement plans including, but not limited to, communications concerning investment alternatives, account maintenance, account recordkeeping, investment and tax reporting, transaction processing, and benefit disbursement.
DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 597
Plan number 100358
MissionSquare Retirement Agreement 2 of 12
AGREEMENTS
1. Appointment of MissionSquare
Employer hereby appoints MissionSquare as administrator of the Plan to perform all nondiscretionary functions necessary for the administration of the Plan. The functions to be performed by MissionSquare shall be those set forth in Exhibit A to this Agreement.
2. Adoption of VantageTrust
Employer has adopted the Declaration of Trust of VantageTrust Company and agrees to the commingled investment of assets of the Plan within VantageTrust.
Employer agrees that the investment, management, and distribution of amounts deposited in VantageTrust shall be subject to the Declaration of Trust, as it may be amended from time to time and shall also be subject to terms and conditions set forth in disclosure documents (such as the MissionSquare Disclosures or Employer Bulletins) as those terms and conditions may be adjusted from time to time.
3. Exclusivity Agreement
Employer agrees that for the initial or succeeding term of this Agreement specified in Section 11, so long as MissionSquare continues to perform in all material respects the services to be performed by it under this Agreement, Employer shall not obtain plan administration from anyone other than MissionSquare. Employer acknowledges that MissionSquare has agreed to the compensation to be paid to MissionSquare under this Agreement in the expectation that MissionSquare will be able to offset costs allocable to performing this Agreement with revenues arising from Employer's exclusive use of MissionSquare at the rates provided herein throughout the initial or succeeding term.
4. Employer Duty to Furnish Information
Employer agrees to furnish to MissionSquare on a timely basis such information as is necessary for MissionSquare to carry out its responsibilities as Administrator of the Plan, including information needed to allocate individual participant accounts to Funds in VantageTrust, and information as to the employment status of participants, and participant ages, addresses, and other identifying information (including tax identification numbers). Employer also agrees that it will notify MissionSquare in a timely manner regarding changes in staff as it DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 598
Plan number 100358
MissionSquare Retirement Agreement 3 of 12
relates to various roles. Such notification is to be completed through the plan sponsor website. MissionSquare shall be entitled to rely upon the accuracy of any information that is furnished to it by a responsible official of the Employer or any information relating to an individual participant or beneficiary that is furnished by such participant or beneficiary, and MissionSquare shall not be responsible for any error arising from its reliance on such information.
MissionSquare will provide reports, statements and account information to the Employer through the plan sponsor website.
Employer is required to send in contributions through the plan sponsor website.
Alternative electronic methods may be allowed but must be approved by MissionSquare for use. Contributions may not be sent through paper submittal documents.
To the extent Employer selects third-party funds that do not have fund profile information provided to MissionSquare through electronic data feeds from external sources (such as Morningstar) or third-party fund providers, the Employer is responsible for providing to MissionSquare timely fund investment updates for disclosure to Plan participants. Such updates may be provided to MissionSquare through the Employer’s investment consultant or other designated representative.
5. MissionSquare Representations and Warranties
MissionSquare represents and warrants to Employer that:
(a) MissionSquare is a non-profit corporation with full power and authority to enter into this Agreement and to perform its obligations under this Agreement. The ability of MissionSquare, or its wholly owned subsidiary, to serve as investment adviser to VantageTrust Company is dependent upon the continued
willingness of VantageTrust Company for MissionSquare, or its wholly owned subsidiary, to serve in that capacity.
(b) MissionSquare is an investment adviser registered as such with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended.
(c) MissionSquare shall maintain and administer the Plan in accordance with the requirements for plans which satisfy the qualification requirements of Section 401 of the Internal Revenue Code and other applicable federal law; provided, however, DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 599
Plan number 100358
MissionSquare Retirement Agreement 4 of 12
MissionSquare shall not be responsible for the qualified status of the Plan in the event that the Employer directs MissionSquare to administer the Plan or disburse assets in a manner inconsistent with the requirements of Section 401 or otherwise causes the Plan not to be carried out in accordance with its terms; provided, further, that if the plan document used by the Employer contains terms that differ from the terms of MissionSquare's model plan document, MissionSquare shall not be responsible for the qualified status of the Plan to the extent affected by the differing terms in the Employer's plan document. MissionSquare shall not be
responsible for monitoring state or local law applicable to retirement plans or for administering the Plan in compliance with local or state requirements regarding plan administration unless Employer notifies MissionSquare of any such local or state requirements.
6. Employer Representations and Warranties
Employer represents and warrants to MissionSquare that:
(a) Employer is organized in the form and manner recited in the opening paragraph of this Agreement with full power and authority to enter into and perform its obligations under this Agreement and to act for the Plan and participants in the manner contemplated in this Agreement. Execution, delivery, and performance of this Agreement will not conflict with any law, rule, regulation or contract by which the Employer is bound or to which it is a party.
(b) Employer understands and agrees that MissionSquare’s sole function under this Agreement is to act as recordkeeper and to provide administrative, investment or other services at the direction of Plan participants, the Employer, its agents or designees in accordance with the terms of this Agreement. Under the terms of this Agreement, MissionSquare does not render investment advice, is neither the “Plan Administrator” nor “Plan Sponsor” as those terms are defined under applicable federal, state, or local law, and does not provide legal, tax or accounting advice with respect to the creation, adoption or operation of the Plan and its related trust. MissionSquare does not perform any service under this Agreement that might cause MissionSquare to be treated as a “fiduciary” of the Plan under applicable law, except, DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 600
Plan number 100358
MissionSquare Retirement Agreement 5 of 12
and only, to the extent that MissionSquare provides investment advisory services to individual participants enrolled in Guided Pathways Advisory Services.
(c) Employer acknowledges and agrees that MissionSquare does not assume any responsibility with respect to the selection or retention of the Plan’s investment options. Employer shall have exclusive responsibility for the Plan’s investment options, including the selection of the applicable mutual fund share class. Where applicable, Employer understands that the MissionSquare Retirement IncomeAdvantage Fund is an investment option for the Plan and that the fund invests in a separate account available through a group variable annuity contract. By entering into this Agreement, Employer acknowledges that it has received the Important Considerations document and the MissionSquare Disclosures and that it has read the information therein concerning the MissionSquare Retirement IncomeAdvantage Fund.
(d) Employer acknowledges that certain such services to be performed by MissionSquare under this Agreement may be
performed by an affiliate or agent of MissionSquare pursuant to one or more other contractual arrangements or relationships, and that MissionSquare reserves the right to change vendors with which it has contracted to provide services in connection with this Agreement without prior notice to Employer.
(e) Employer approves the use of its Plan in MissionSquare external media, publications and materials. Examples include press releases announcements and inclusion of the general plan information in request for proposal responses.
7. Participation in Certain Proceedings
The Employer hereby authorizes MissionSquare to act as agent, to appear on its behalf, and to join the Employer as a necessary party in all legal proceedings involving the garnishment of benefits or the transfer of benefits pursuant to the divorce or separation of participants in the Plan. Unless Employer notifies MissionSquare otherwise, Employer consents to the disbursement by MissionSquare of benefits that have been garnished or transferred to a former spouse, current spouse, or child pursuant to a domestic relations order or child support order.
DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 601
Plan number 100358
MissionSquare Retirement Agreement 6 of 12
8. Compensation and Payment
(a) Plan Administration Fee. The amount to be paid for plan administration services under this Agreement shall be 0.55% per annum of the amount of Plan assets invested in VantageTrust. Such fee shall be computed based on average daily net Plan assets in VantageTrust.
(b) Compensation for Management Services to VantageTrust Company, Compensation for Advisory and other Services to the MissionSquare Funds Class M and Payments from ThirdParty Mutual Funds. Employer acknowledges that, in addition to amounts payable under this Agreement, MissionSquare, or its wholly owned subsidiary, receives fees from VantageTrust Company for investment advisory services and plan and
participant services furnished to VantageTrust Company.
Employer further acknowledges that MissionSquare, including certain of its wholly owned subsidiaries, receives compensation for advisory and other services furnished to the MissionSquare Funds Class M, which serve as the underlying portfolios of a number of Funds offered through VantageTrust. For a MissionSquare Fund Class R that invests substantially all of its assets in a third-party mutual fund not affiliated with MissionSquare, MissionSquare or its wholly owned subsidiary receives payments from the third-party mutual fund families or their service providers in the form of 12b-1 fees, service fees, compensation for sub-accounting and other services provided based on assets in the underlying third-party mutual fund. These fees are described in the MissionSquare Disclosures and MissionSquare’s fee disclosure statement. In addition, to the extent that third party mutual funds are included in the investment line-up for the Plan, MissionSquare receives administrative fees from its third-party mutual fund settlement and clearing agent for providing administrative and other services based on assets invested in third-party mutual funds; such administrative fees come from payments made by third-party mutual funds to the settlement and clearing agent.
(c) Redemption Fees. Redemption fees imposed by outside mutual funds in which Plan assets are invested are collected and paid to the mutual fund by MissionSquare. MissionSquare remits 100% of redemption fees back to the specific mutual fund to which redemption fees apply. These redemption fees and the individual DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 602
Plan number 100358
MissionSquare Retirement Agreement 7 of 12
mutual fund’s policy with respect to redemption fees are specified in the prospectus for the individual mutual fund and referenced in the MissionSquare Disclosures.
(d) Payment Procedures. All payments to MissionSquare pursuant to this Section 8 shall be made from Plan assets held by VantageTrust or received from third-party mutual funds or their service providers in connection with Plan assets invested in such third-party mutual funds, to the extent not paid by the Employer. The amount of Plan assets administered by MissionSquare shall be adjusted as required to reflect any such payments as are made from the Plan.
In the event that the Employer agrees to pay amounts owed pursuant to this Section 8 directly, any amounts unpaid and outstanding after 30 days of invoice to the Employer shall be withdrawn from Plan assets.
The compensation and payment set forth in this Section 8 are contingent upon the Employer’s use of MissionSquare’s plan sponsor website system for contribution processing and submitting contribution funds by ACH or wire transfer on a consistent basis over the term of this Agreement.
9. Contribution Remittance
Employer understands that amounts invested in the Plan are to be remitted directly to Vantagepoint Transfer Agents in accordance with instructions provided to Employer by MissionSquare and are not to be remitted to MissionSquare. In the event that any check or wire transfer is incorrectly labeled or transferred to MissionSquare, MissionSquare may return it to Employer with proper instructions.
10. Indemnification
MissionSquare shall not be responsible for any acts or omissions of any person with respect to the Plan or its related trust, other than MissionSquare in connection with the administration or operation of the Plan. Employer shall indemnify MissionSquare against, and hold MissionSquare harmless from, any and all loss, damage, penalty, liability, cost, and expense, including without limitation, reasonable attorney’s fees, that may be incurred by, imposed upon, or asserted against MissionSquare by reason of any claim, regulatory proceeding, or litigation arising from any act done or omitted to be done by any individual or person with respect to the Plan or its related trust, excepting only DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 603
Plan number 100358
MissionSquare Retirement Agreement 8 of 12
any and all loss, damage, penalty, liability, cost or expense resulting from MissionSquare’s negligence, bad faith, or willful misconduct.
11. Term
This Agreement shall be in effect and commence on the date all parties have signed and executed this Agreement (“Inception Date”). This Agreement may be terminated without penalty by either party on sixty days advance notice in writing to the other; provided however, that the Employer understands and acknowledges that, in the event the Employer terminates this Agreement (or replaces the MissionSquare PLUS Fund of VantageTrust, as an investment option in its investment line-up), MissionSquare retains full discretion to release Plan assets invested in the MissionSquare PLUS Fund in an orderly manner over a period of up to 12 months from the date MissionSquare receives written notification from the Employer that it has made a final and binding selection of a replacement for MissionSquare as administrator of the Plan (or a replacement investment option for the MissionSquare PLUS Fund).
12. Amendments and Adjustments
(a) This Agreement may be amended by written instrument signed by the parties.
(b) MissionSquare may modify this agreement by providing 60 days’ advance written notice to the Employer prior to the effective date of such proposed modification. Such modification shall become effective unless, within the 60-day notice period, the Employer notifies MissionSquare in writing that it objects to such modification.
(c) The parties agree that enhancements may be made to administrative services under this Agreement. The Employer will be notified of enhancements through the Employer Bulletin, quarterly statements, electronic messages or special mailings. Likewise, if there are any reductions in fees, these will be announced through the Employer Bulletin, quarterly statement, electronic messages or special mailing.
13. Notices
Unless otherwise provided in this Agreement, all notices required to be delivered under this Agreement shall be in writing and shall be delivered, mailed, e-mailed or faxed to the location of the relevant party set forth below or DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 604
Plan number 100358
MissionSquare Retirement Agreement 9 of 12
to such other address or to the attention of such other persons as such party may hereafter specify by notice to the other party.
MissionSquare: Legal Department, MissionSquare, 777 North Capitol Street, N.E., Suite 600, Washington, D.C., 20002-4240 Facsimile; (202) 962-4601
Employer: at the office set forth in the first paragraph hereof, or to any other address, facsimile number or e-mail address designated by the Employer to receive the same by written notice similarly given.
Each such notice, request or other communication shall be effective: (i) if given by facsimile, when transmitted to the applicable facsimile number and there is appropriate confirmation of receipt; (ii) if given by mail or e-mail, upon transmission to the designated address with no indication that such address is invalid or incorrect; or (iii) if given by any other means, when actually delivered at the aforesaid address.
14. Complete Agreement
This Agreement shall constitute the complete and full understanding and sole agreement between MissionSquare and Employer relating to the object of this Agreement and correctly sets forth the complete rights, duties and obligations of each party to the other as of its date. This Agreement supersedes all written and oral agreements, communications or negotiations among the parties. Any prior agreements, promises, negotiations or representations, verbal or otherwise, not expressly set forth in this Agreement are of no force and effect.
15. Titles
The headings of Sections of this Agreement and the headings for each of the attached schedules are for convenience only and do not define or limit the contents thereof.
16. Incorporation of Exhibits
All Exhibits (and any subsequent amendments thereto), attached hereto, and referenced herein, are hereby incorporated within this Agreement as if set forth fully herein.
DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 605
Plan number 100358
MissionSquare Retirement Agreement 10 of 12
17. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of California, applicable to contracts made in that jurisdiction without reference to its conflicts of laws provisions.
In Witness Whereof, the parties hereto certify that they have read and understand this Agreement and all Schedules attached hereto and have caused this Agreement to be executed by their duly authorized officers as of the Inception Date first above written.
CITY OF WILDOMAR
By _____________________________________________
Signature/Date
By _____________________________________________
Name and Title (Please Print)
THE INTERNATIONAL CITY MANAGEMENT
ASSOCIATION RETIREMENT CORPORATION
doing business as MISSIONSQUARE
RETIREMENT
By _____________________________________________
Erica McFarquhar
Authorized Representative
Please return an executed copy of the Agreement to a Delivery Address, either:
(a) Via DocuSign
(b) Electronically to [email protected] DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 Robert Howell Administrative Services
606
Plan number 100358
MissionSquare Retirement Agreement 11 of 12
Exhibit A
Administrative Services
The administrative services to be performed by MissionSquare under this Agreement shall be as follows:
(a) Participant enrollment services are provided online. Employees will enroll online through a secure site or the Employer will enroll employees through the plan sponsor website.
(b) Establishment of participant accounts for each employee participating in the Plan for whom MissionSquare receives appropriate enrollment instructions. MissionSquare is not responsible for determining if such Plan participants are eligible under the terms of the Plan.
(c) Allocation in accordance with participant directions received in good order of individual participant accounts to investment funds offered under the Plan.
(d) Maintenance of individual accounts for participants reflecting amounts deferred, income, gain or loss credited, and amounts distributed as benefits.
(e) Maintenance of records for all participants for whom participant accounts have been established. These files shall include enrollment instructions (provided to MissionSquare through the participant website or the plan sponsor website), beneficiary designation instructions and all other documents concerning each participant's account.
(f) Provision of periodic reports to the Employer through the plan sponsor website. Participants will have access to account information through Participant Services, Voice Response System, the participant website, and text access, and through quarterly statements that can be delivered electronically through the participant website or by postal service. (g) Communication to participants of information regarding their rights and elections under the Plan.
(h) Making available Participant Services Representatives through a toll-free telephone number from 8:30 a.m. to 9:00 p.m. Eastern Time, Monday through Friday (excluding holidays and days on which the securities markets or MissionSquare are closed for business (including emergency closings)), to assist participants.
DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 607
Plan number 100358
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(i) Making available access to MissionSquare’s website, to allow participants to access certain account information and initiate certain plan transactions at any time. The participant website is normally available 24 hours a day, seven days a week except during scheduled maintenance periods designed to ensure highquality performance. The scheduled maintenance window is outlined at https://accountaccess.icmarc.org.
(j) Maintaining the security and confidentiality of client information through a system of controls including but not limited to, as appropriate:
restricting plan and participant information only to those who need it to provide services, software and hardware security, access controls, data back-up and storage procedures, non-disclosure agreements, security incident response procedures, and audit reviews.
(k) Making available access to MissionSquare’s plan sponsor web site to allow plan sponsors to access certain plan information and initiate plan transactions such as enrolling participants and managing contributions at any time. The plan sponsor website is normally available 24 hours a day, seven days a week except during scheduled maintenance periods designed to ensure high-quality performance. The scheduled maintenance window currently is outlined at https://ezlink.icmarc.org. (l) Distribution of benefits as agent for the Employer in accordance with terms of the Plan. Participants who have separated from service can request distributions through the participant website or via form. (m)Upon approval by the Employer that a domestic relations order is an acceptable qualified domestic relations order under the terms of the Plan, MissionSquare will establish a separate account record for the alternate payee and provide for the investment and distribution of assets held thereunder.
(n) Loans may be made available on the terms specified in the Loan Guidelines, if loans are adopted by the Employer. Participants can request loans through the participant website.
(o) Guided Pathways Advisory Services – MissionSquare’s participant advice service, “Fund Advice” may be made available through a third-party vendor on the terms specified on MissionSquare’s website. (p) MissionSquare will determine appropriate delivery method (electronic and/or print) for plan sponsor/participant communications and DocuSign Envelope ID: 50CC1D1E-B3BB-4C49-80B1-CE3DA1292F87 608
Certificate Of Completion
Envelope Id: 50CC1D1EB3BB4C4980B1CE3DA1292F87 Status: Delivered Subject: Please DocuSign: MissionSquare - City of Wildomar - New 401 - 100358 - SSC 3687 Source Envelope:
Document Pages: 13 Signatures: 0 Envelope Originator:
Certificate Pages: 5 Initials: 0 MissionSquare Retirement Client Contracts Administ AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-05:00) Eastern Time (US & Canada)
777 North Capitol St. NE
washington DC, WA 20002
[email protected]
IP Address: 199.91.136.12
Record Tracking
Status: Original
12/5/2022 9:38:42 AM
Holder: MissionSquare Retirement Client Contracts
Administ
[email protected]
Location: DocuSign
Signer Events Signature Timestamp
Robert Howell
[email protected]
Administrative Services Director
City of Wildomar
Security Level: Email, Account Authentication
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Sent: 12/5/2022 9:40:08 AM
Viewed: 12/5/2022 9:40:53 AM
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Accepted: 12/5/2022 9:40:53 AM
ID: 2640c635-c83a-4444-92c8-b26b70933e20
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Onboarding -
[email protected]
Missionsquare Retirement
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(None)
Sent: 12/5/2022 9:40:08 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Isaiah Carter
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 12/5/2022 9:40:08 AM
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
ASA Administration
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 12/5/2022 9:40:08 AM
609
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Electronic Record and Signature Disclosure
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ELECTRONIC RECORD AND SIGNATURE DISCLOSURE
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All notices and disclosures will be sent to you electronically Electronic Record and Signature Disclosure created on: 8/13/2020 9:12:16 PM Parties agreed to: Robert Howell
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Until or unless you notify ICMA-RC- Client Contracts as described above, you consent to receive exclusively through electronic means all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you by ICMA-RC- Client Contracts during the course of your relationship with ICMA-RC- Client Contracts.
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CITY OF WILDOMAR
CC - REGULAR MEETING
FUTURE AGENDA ITEMS
Meeting Date: December 14, 2022
SUBJECT: Future Agenda Items
SUBMITTED BY: Janet Morales
PREPARED BY: Janet Morales, City Clerk
ACTION:
Title- Councilmember-Anticipated Date
1. Firework Ordinance - Morabito - Feb 2023
2. Clinton Keith Road on/off Ramp Maintenance - Moore - Jan 2023
3. Specifications for Little Free Library and other community donated items - Morabito - Feb 2023
4. Amend Fencing Requirements - Benoit - TBD
5. Amend Multi-Family Design Guidelines - Benoit - TBD
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CITY OF WILDOMAR
CC - REGULAR MEETING
CONSENT CALENDAR
Agenda Staff Report # 4.1
Meeting Date: December 14, 2022
SUBJECT: November 9, 2022-Cemetery Minutes
SUBMITTED BY: Jandi Aguilar
PREPARED BY: Jandi Aguilar, Administrative Analyst
ACTION:
Approve the minutes as presented.
ATTACHMENTS:
11-9-22 Cem Min.docx
615
Cemetery District – Regular Meeting – Minutes – November 9, 2022 1
MINUTES
CITY OF WILDOMAR
CEMETERY DISTRICT CC - REGULAR MEETING
WEDNESDAY, NOVEMBER 9, 2022
COUNCIL CHAMBERS
23873 CLINTON KEITH ROAD SUITE 106
WILDOMAR, CA 92595
Members in attendance: Ben J Benoit, Joseph Morabito, Ashlee DePhillippo Bridgette Moore, and Dustin Nigg
CALL TO ORDER THE WILDOMAR CEMETERY DISTRICT
The regular meeting was called to order by Chair Benoit at 8:39 p.m.
ROLL CALL
Staff in Attendance: General Manager York, City Attorney Jex, Board Clerk Morales, Administrative Analyst Aguilar, Planning Director Bassi, Administrative Services Director Howell, Public Works Director Farag, Development Manager Stadnik, and Community Services Director Torres.
PUBLIC COMMENTS
None
BOARD COMMUNICATIONS
None
APPROVAL OF THE AGENDA AS PRESENTED
No Changes to the agenda as presented
4. CEMETERY CONSENT CALENDAR
Moved by Dustin Nigg; seconded by Bridgette Moore to Approve all items on the consent calendar.
Motion Approved: 5 – 0
Voting For: Ben J Benoit, Joseph Morabito, Ashlee DePhillippo, Bridgette Moore, Dustin Nigg
Voting Against: None
Abstain: None
Absent: None
4.1 Minutes- October 12, 2022, Regular Meeting
Approved the minutes as presented.
4.2 Warrant Register Cemetery October 2022
Approved the following:
For the Fiscal Year 2022/2023
1. Warrant Register dated 10-06-2022 in the amount of $362.91. 616
Cemetery District – Regular Meeting – Minutes – November 9, 2022 2
2. Warrant Register dated 10-13-2022 in the amount of $4.99.
3. Warrant Register dated 10-27-2022 in the amount of $4,398.26.
4.3 September 2022 Cemetery Treasurers Report
Approved the Treasurer’s Report for September 2022.
5. CEMETERY PUBLIC HEARING
None
6. CEMETERY GENERAL BUSINESS
None
GENERAL MANAGER REPORT
None
FUTURE AGENDA ITEMS
None
ADJOURN THE WILDOMAR CEMETERY DISTRICT MEETING
There being no further business, Chair Benoit adjourned the meeting at 8:40 p.m.
Submitted by: Approved by:
______________________________ ______________________________ Janet Morales, CMC Joseph Morabito
City Clerk Vice-Chair
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CITY OF WILDOMAR
CC - REGULAR MEETING
CONSENT CALENDAR
Agenda Staff Report # 4.2
Meeting Date: December 14, 2022
SUBJECT: Warrant Register Cemetery November 2022
SUBMITTED BY: Robert Howell
PREPARED BY: Nicholas Neidiffer , Accounting Specialist ACTION:
Approve the following:
For Fiscal Year 2022/2023
1. Warrant Register dated 11-03-2022 in the amount of $176.31.
2. Warrant Register dated 11-10-2022 in the amount of $2,848.19.
3. Warrant Register(s) dated 11-17-2022 in the amount of $1,095.90.
DISCUSSION:
The Wildomar Cemetery District requires that the Trustees audit payments of demands and direct the General Manager to issue checks. The Warrant Registers are submitted for approval.
FISCAL IMPACT:
These Warrant Registers will have a budgetary impact in the amount and fiscal year noted in the recommendation section of this report. These costs are included in the Fiscal Year 2022/23 Budget.
ATTACHMENTS:
Warrant Reg CEM Nov 2022 Voucher Listings
618
11/03/2022
Voucher List
City of Wildomar
1 1:05:37PM
Page:
Bank code : wf
Voucher Date Vendor Invoice PO # Description/Account Amount 215805 11/3/2022 000367 CINTAS CORPORATION 4136094379 STAFF UNIFORM & TOWEL MAINTENANCE 77.72 Total : 77.72
215806 11/3/2022 000094 STAUFFERS LAWN EQUIPMENT 301810B FACILITY MATERIAL 98.59 Total : 98.59
2 Vouchers for bank code : wf Bank total : 176.31
2 Vouchers in this report Total vouchers : 176.31
619
11/10/2022
Voucher List
City of Wildomar
1 1:47:49PM
Page:
Bank code : wf
Voucher Date Vendor Invoice PO # Description/Account Amount 215841 11/10/2022 000012 ELSINORE VALLEY MUNICIPAL, WATER DISTRICT 11991052 09/19/22-10/18/22 CEMETERY WATER
SERVICE
2,240.39
Total : 2,240.39
215842 11/10/2022 000941 FRONTIER 101922 CEMETERY VOICE/INTERNET SVC 10/19/22-11/
70.80 Total : 70.80
215843 11/10/2022 000186 RIGHTWAY 316900 CEMETERY RESTROOM MAINTENANCE/SERVICE 10
449.55
Total : 449.55
215844 11/10/2022 000790 SPARKLETTS 11522 THROUGH 11/05/22 DRINKING WATER - CEMETE
52.45 Total : 52.45
215845 11/10/2022 000094 STAUFFERS LAWN EQUIPMENT 302617 EQUIPMENT MAINTENANCE REPAIR 35.00 Total : 35.00
5 Vouchers for bank code : wf Bank total : 2,848.19
5 Vouchers in this report Total vouchers : 2,848.19
620
11/17/2022
Voucher List
City of Wildomar
1 3:00:20PM
Page:
Bank code : wf
Voucher Date Vendor Invoice PO # Description/Account Amount 215883 11/17/2022 001258 SUNBELT RENTALS, INC. 131922558-0001B CEMETERY EQUIPMENT RENTAL 235.90 Total : 235.90
1 Vouchers for bank code : wf Bank total : 235.90
1 Vouchers in this report Total vouchers : 235.90
621
11/17/2022
Voucher List
City of Wildomar
1 4:04:32PM
Page:
Bank code : wf
Voucher Date Vendor Invoice PO # Description/Account Amount 215884 11/17/2022 000434 PONTEM SOFTWARE BY RIA 11051C CEMETERY MANAGEMENT SOFTWARE 07/01/22-06
860.00
Total : 860.00
1 Vouchers for bank code : wf Bank total : 860.00
1 Vouchers in this report Total vouchers : 860.00
622
CITY OF WILDOMAR
CC - REGULAR MEETING
CONSENT CALENDAR
Agenda Staff Report # 4.3
Meeting Date: December 14, 2022
SUBJECT: October 2022 Cemetery Treasurers Report
SUBMITTED BY: Adam Jantz
PREPARED BY: Adam Jantz, Senior Administrative Analyst
ACTION:
Staff recommends that the Board of Trustees approve the Treasurer’s Report for October 2022.
SUMMARY:
October 2022 Cemetery Treasurer’s Report
DISCUSSION:
Attached is the Treasurer’s Report for Cash and Investments for the month of October 2022.
FISCAL IMPACT:
None.
ATTACHMENTS:
October 2022 Cemetery Treasurers Report
623
PERCENT
OF DAYS STATED
BOOK VALUE FACE VALUE MARKET VALUE PORTFOLIO TO MAT. RATE $ 240,946.95 $ 240,946.95 $ 240,946.95 100.00% 0 Variable $ 240,946.95 $ 240,946.95 $ 240,946.95 100.00%
+ WITHDRAWALS/
BEGINNING DEPOSITS/ SALES/ ENDING STATED
BALANCE PURCHASES MATURITIES BALANCE RATE
$ 242,263.31 $ - $ (1,316.36) $ 240,946.95 Variable
$ 242,263.31 $ - $ (1,316.36) $ 240,946.95
$ 240,946.95
TOTAL
WILDOMAR CEMETERY DISTRICT
TREASURER'S REPORT FOR
CASH AND INVESTMENT PORTFOLIO
October 2022
DISTRICT INVESTMENT
EDWARD JONES
ISSUER
ISSUER
EDWARD JONES
TOTAL
TOTAL INVESTMENT
Administrative Services Director
In compliance with the California Code Section 53646, as City Treasurer for the Wildomar Cemetery District, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the District's expenditure requirements for the next six months.
I also certify that this report reflects all Government Agency pooled investments and all of the District's Bank Balances.
Robert Howell 11/7/2022
Robert Howell Date
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