Title
Pension Plan Bids
Body
SUMMARY: RFP's were received from five (5) companies and The State of Tennessee was contacted about their pension plan and the costs associated. In reviewing the costs of all these companies (see attachment), I would like to recommend using ICMA. They have a representative in Tennessee even though they are based in Washington DC. There are no costs to the City with ICMA and benefits to the employee are sufficient.
BUDGET ACCOUNT: N/A
Recommended Action
NECESSARY COUNCIL ACTION: Approve ICMA as Plan Administrator beginning July 1, 2013.