HomeMy WebLinkAboutMINUTES - 06211994 - 1.64 To: BOARD OF SUPERVISORS Contra
FROM: Joseph J. Tonda, County Risk Manager { Costa
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DATE: June 21, 1994 '���.. ••�*
County
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SUBJECT: Approval of Amendment to the Group Annuity Contract (No. 60002)
with The Hartford
SPECIFIC REOUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
Recommendation:
Authorize The County Risk Manger, on behalf of County and Districts participating
in the County Deferred Compensation Plan,to execute an amendment agreement to the Group
Annuity Contract No. 60002 with the Hartford to add the AMS/Fidelity Advisory Growth
Opportunities Fund,AMS/Fidelity Advisor Income ForGrowth Fund,AMS/Fidelity Advisor
Overseas Fund and the AMS/Fidelity Advisor Strategic Opportunities Fund to the list of
available investment options.
Financial Impact:
None
Background:
Participating employees have expressed an interest in additional investment options over
and above those currently offered, particularly those that are publicly listed in local
newspapers. In an effort to respond to participant demands, Hartford has offered four new
investment options as stated above. These specific options are designed to meet participant
interests and retirement needs.
The Deferred Compensation Advisory Committee and the County Risk Manager,after review
and discussion recommend The AMS/Fidelity Advisor Funds be added. This amendment will
allow the Hartford to offer this additional investment option to interested plan members.
JM:ANNUITY
CONTINUED ON ATTACHMENT: YES SIGNATURE:
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RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF B RD OMMITT E
APPROVE OTHER
SIGNATURE (S)!
ACTION OF BOARD ON qq APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVI13ORS
1 HEREBY CERTIFY THAT THIS IS A TRUE
UNANIMOUS(ABSENT ""� AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES:: -f AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT:—�� ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: CONTACT: Jean F. Soares - 6-1727 ATTESTED TH
County, Counsel PHIL B CHELOR,CLERK OF THE BOARD OF
County Ad1•t'Linistrator's.Office SUPERVISORS AND COUNTY ADMINISTRATOR
Auditor—Controller
Benefits Division
Risk Management BY a e . o�
M382 (10/88) ,DEPUTY