470.2008
RESOLUTION AUTHORIZING AWARD OF CONTRACT FOR
ADMINISTRATION OF THE TOWN OF QUEENSBURY’S DEFERRED
COMPENSATION PLAN TO HARTFORD LIFE INSURANCE COMPANY
RESOLUTION NO.: 470, 2008
INTRODUCED BY: Mr. John Strough
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Anthony Metivier
WHEREAS, in accordance with New York State Finance Law §5 and the New York State
Deferred Compensation Board Regulations, the Queensbury Town Board previously adopted and
currently administers the Deferred Compensation Plan for Employees of the Town of Queensbury, and
WHEREAS, the Town’s Deferred Compensation Committee accepted and reviewed proposals
for administration of the Town’s Deferred Compensation Plan for a five-year contract period as set
forth in §9003 of Subtitle II, Title 9 NYCRR, and
WHEREAS, the Deferred Compensation Committee has recommended that the Town Board
award the contract to The Hartford as Administrative Services Agency and Financial Organization in
accordance with §9003 of Subtitle II, Title 9 NYCRR, and
WHEREAS, the Deferred Compensation Committee has also recommended that State Street
Bank and Trust Company act as Trustee,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby awards the contract for administration
of the Town’s Deferred Compensation Plan for a five-year contract period to The Hartford as
Administrative Services Agency and Financial Organization in accordance with §9003 of Subtitle II,
Title 9 NYCRR, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to
execute all necessary documentation to contract with The Hartford and State Street Bank and Trust
Company for administrative, financial and trustee services for the Town of Queensbury’s Deferred
Compensation Plan for the period January 1, 2009 or as soon thereafter as possible through January 1,
2014, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town
Budget Officer and/or Town Counsel to file this Resolution, make any necessary notifications and take
any and all actions necessary to effectuate the terms of this Resolution.
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Duly adopted this 6 day of October, 2008, by the following vote:
AYES : Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES : None
ABSENT: None
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