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CITY OF PEQUOT LAKES <br /> RESOLUTION 17- <br /> RESOLUTION APPROVING THE JOHN HANCOCK 457(b) PLAN <br /> WHEREAS, a 457(b) plan is a type of nonqualified, tax advantaged deferred <br /> compensation plan that is available for governmental employers. <br /> WHEREAS, in 2004, the City of Pequot Lakes executed a Participation <br /> Agreement to administer a Wenzel Financial 457(b) Plan for City employees, <br /> and; <br /> WHEREAS, this 457(b) Plan continues to be funded entirely by employee <br /> contributions, and; <br /> WHEREAS, the 457(b) Plan is changing from Voya Financial 457(b) Plan <br /> serviced by Wenzel Financial Services, Inc. to the John Hancock 457(b) Plan <br /> with Wenzel Financial Services, Inc. as the servicing agency for the offered <br /> products. <br /> NOW, THEREFORE, BE IT RESOLVED the Pequot Lakes City Council <br /> approves the replacement of the Voya Financial 457(b) Plan with the John <br /> Hancock 457(b) Plan and further authorizes the City Administrator/Clerk as the <br /> Plan Administrator for the City. <br /> Adopted by the City Council of the City of Pequot Lakes this 2nd day of May, <br /> 2017. <br /> Nancy A. Adams <br /> Mayor <br /> ATTEST: <br /> Nancy Malecha <br /> City Administrator/Clerk <br />