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TO: Mayor John D. Laesch
FROM: Daniel Ferguson, Accounting Manager
Stacey Peterson, CFO/City Treasurer
DATE: August 25, 2025
SUBJECT:
A resolution approving the revised rules for the administration of the City's deferred compensation plans.
PURPOSE:
To obtain City Council's approval of the attached resolution that would establish revised rules for the administration of the City's deferred compensation plans.
BACKGROUND:
Pursuant to the adoption of R03-487, the Deferred Compensation Administration Committee was established. The committee is comprised of the Chief Financial Officer/City Treasurer (Chair), Director of Human Resources, and Corporation Counsel. This committee is charged with evaluating the deferred compensation plans and has only met as needed concerning the acceptance or termination of plans.
Pursuant to the adoption of R24-420, the City executed a five-year agreement with Creative Planning Retirement Services ("CPRS") to perform 457(b) fiduciary and consulting services for these plans. With that agreement, CPRS will provide guidance to the Deferred Compensation Administration Committee on value-add opportunities within the deferred compensation plan design. Most of the plans the City currently offers have been in place for nearly three decades and the current marketplace has drastically changed since that time. As is the City's fiduciary duty, CPRS will ensure that we are offering the competitive options that our participants now expect, but with reasonable fees at current market rates.
DISCUSSION:
To continue our previous presentations regarding the City's deferred compensation plans back in December 2024, we are proposing to expand the Deferred Compensation Administration Committee to a total of five committee members. The two additional committee members will be appointed by the Mayor and shall meet the following eligibility criteria:
a. One active City of Aurora employee that is a current participant in the City's deferred compens...
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