4.O 25-782 Approve the Implementation of a Section 401(a) Deferred Compensation Plan, and Authorize the City Manager to Execute All Plan Documents to Implement the Section 401(a) Deferred Compensation Plan, and Authorize the City Manager to Execute Side Letter Agreements, and Execute Any Future Side Letter Agreements, with Bargaining Units for City Contributions towards Deferred Compensation from the 457(b) Plan to the 401(a) Plan. - City of Santa Clara

Meeting: Council and Authorities Concurrent Meeting on 2025-07-15 5:00 PM

Meeting Time: July 15, 2025 at 5:00pm PDT

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Agenda Item

4.O 25-782 Approve the Implementation of a Section 401(a) Deferred Compensation Plan, and Authorize the City Manager to Execute All Plan Documents to Implement the Section 401(a) Deferred Compensation Plan, and Authorize the City Manager to Execute Side Letter Agreements, and Execute Any Future Side Letter Agreements, with Bargaining Units for City Contributions towards Deferred Compensation from the 457(b) Plan to the 401(a) Plan.

Legislation Text 401(a) Adoption Agreement 401(a) Administrative Services Agreement Additional 401(a) Plan setup documents from Nationwide Side Letter Agreement with the Santa Clara Firefighters, IAFF Local 1171 (Unit 1) on 401(a) Side Letter Agreement with the Unclassified Police Management Association (Unit 9A) on 401(a) Side Letter Agreement with the Unclassified Miscellaneous Management Employees (Unit 9) on 401(a)