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CITY OF PEQUOT LAKES <br /> � RESOLUTION 17-15 <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 2"d day of May, <br /> 2017. <br /> n �yj� <br /> /b <br /> Nancy A. dams <br /> Mayor <br /> ATTEST: �/i' <br /> Nancy M lecha <br /> City Administrator/Clerk <br /> � <br />