city of tacoma
File #: RES-37284    Version: 1 Name: Amend agmt w/Wilshire Associates Inc
Type: Resolution Status: Adopted
File created: 9/18/2007 In control: City Council
On agenda: 9/18/2007 Final action: 9/18/2007
Title: Resolution No. 37284
Attachments: 1. RES-37284.pdf
Related files: RES39658
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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

6
WHEREAS the Board finds it necessary to employ a consultant to provide
7
pension and investment consulting services for the Board, and
8

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
14
September 30, 2008, and in the amount of $175,000 for the period of
1 5

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:

21
That the Board of Administration of the Tacoma Employes' Retirement
22
System is hereby authorized to amend the existing contract with Wilshi...

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