Req. #1 1527
"SOLUTIONNO. 37284
A RESOLUTION relating to the Tacoma Employes' Retirement System;
I authorizing an amendment to the agreement with Wilshire Associates
2 Incorporated for investment services.
3 WHEREAS the Board of Administration ("Board") of the Tacoma Employes'
4 Retirement System ("TERS") is responsible for the proper and prudent investment
5 of the funds for TERS, and
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WHEREAS the Board finds it necessary to employ a consultant to provide
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pension and investment consulting services for the Board, and
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9 WHEREAS the Board, at its meeting held on August 23, 2007,
10 recommended that the City Council authorize the Board to enter into the fourth
I 1 and fifth year renewal options to the three-year agreement with Wilshire
1 2 Associates Incorporated ("Wilshire") for the provision of pension consulting
1 3 services, in the amount of $165,000 for the period of October 1, 2007, through
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September 30, 2008, and in the amount of $175,000 for the period of
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16 October 1, 2008, through September 30, 2009, budgeted from the Retirement
17 Fund, for a cumulative total of $760,000 for the five-year contract, and
18 WHEREAS it appears to be in the best interests of the City and TERS to
1 9 enter into such agreement; Now, Therefore,
20 BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TACOMA:
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That the Board of Administration of the Tacoma Employes' Retirement
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System is hereby authorized to amend the existing contract with Wilshi...
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