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File #: 18-633    Version: 1
Type: Redevelopment - Successor Agency Status: Agenda Ready
File created: 4/26/2018 In control: Finance Department
On agenda: 5/15/2018 Final action:
Title: Termination of the Retirement Plans of the Former Redevelopment Agency of the City of San Jose.
Sponsors: City Council
Attachments: 1. Memorandum, 2. (a) Resolution, 3. (b) Resolution, 4. (c) Resolution
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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...Title

Termination of the Retirement Plans of the Former Redevelopment Agency of the City of San Jose.

...Recommendations

Board of the Successor Agency to the Redevelopment Agency adopt the following resolutions:

(a)                     Authorizing the termination of the Redevelopment Agency of the City of San Jose Retirement Plan and Trust Agreement (the “401(a) Plan”) effective June 30, 2018 and authorizing the Executive Officer to execute all future instruments related to the termination of the 401(a) Plan. 

(b)                     Authorizing the termination of the Redevelopment Agency of the City of San Jose 457 Public Employee Deferred Compensation Plan (the “457 Plan”) effective June 30, 2018 and authorizing the Executive Officer to execute all future instruments related to the termination of the 457 Plan. 

(c)                     Authorizing the termination of the Redevelopment Agency of the City of San Jose Retirement Plan and Trust Agreement (the “Group Variable Annuity Contract”) effective June 30, 2018 and authorizing the Executive Officer to execute all future instruments related to the termination of the Group Variable Annuity Contract. 

CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Finance)