Title
A Resolution Approving the Change of Administrator for the Medical After Retirement Account (“MARA”) Plan to Educators Benefit Consultants, LLC d/b/a Aviben (“Aviben” or “EBC”) and Authorizing the City Manager to Execute the Necessary Plan Documents to Effect this Change
Body
WHEREAS, as described in the accompanying staff report, staff recommends approval of the change in Medical After Retirement Account (“MARA”) plan administrator to Educators Benefit Consultants, LLC d/b/a Aviben (“Aviben” or “EBC”); and
WHEREAS, the Deferred Compensation Committee has approved the recommendation to change the MARA plan administrator to Aviben; and
WHEREAS, certain plan documents must be executed by the City and plan administrator in order to effectuate this transition.
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of South San Francisco hereby approves Educators Benefits Consultants, LLC d/b/a Aviben as the MARA plan administrator and the necessary plan documents to effectuate the change attached hereto as Exhibits A-C.
BE IT FURTHER RESOLVED that the City Manager is authorized to execute the necessary plan documents in substantially the same form as Exhibits A-C on behalf of the City, and to take any other actions consistent with the intent of this Resolution that does not materially increase the City’s obligations.
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