Loading...
2023-26 Shuster Advisory Group 2023 - Retirement Plan Consulting ServicesDocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF RETIREMENT PLAN CONSULTING SERVICES AGREEMENT This agreement ("Agreement") is entered into between Shuster Advisory Group, LLC ("CONSULTANT"), a California limited liability company, and City of La Quinta, a California municipal corporation and charter city ("CITY") as further identified on Appendix A. CITY, as the responsible plan fiduciary for the City of La Quinta Plan(s) as further identified in Appendix A, desires to engage CONSULTANT to provide the services described in this Agreement according to the terms of this Agreement. 1. Fiduciary Authority. CITY as the responsible plan fiduciary has the authority to designate investment alternatives under the Plan and the related trust, and to enter into an Agreement with third parties to assist in these and related duties. 2. Term. The term of this Agreement will commence May 1, 2023. 3. Services. CONSULTANT agrees to provide the following services to CITY: (A) Fiduciary Services: CONSULTANT will perform the Fiduciary Services described in Appendix B. (B) Non -Fiduciary Services: CONSULTANT will perform the Non -Fiduciary Services described in Appendix C. (C) CITY acknowledges that CONSULTANT has no responsibility to provide any services related to the following types of assets: employer securities; real estate (except for real estate funds and publicly traded REITs); stock brokerage accounts or mutual fund windows; in -plan retirement income annuity products; participant loans; non -publicly traded partnership interests; other non -publicly traded securities (other than collective trusts and similar vehicles); or other hard -to -value securities or assets. Such assets (except for real estate funds, publicly traded REITs, and collective trusts and similar vehicles) shall be referred to collectively as "Excluded Assets." The Excluded Assets shall be disregarded in determining the Fees payable to CONSULTANT pursuant to this Agreement, and the Fees shall be calculated only on the remaining assets (the "Included Assets"). 4. Fees. (A) The compensation, direct and indirect, of CONSULTANT for the performance of the Services is described in Appendix D. 5. Fiduciary Status: Limitations on Functions. CITY acknowledges that: (A) In performing the Fiduciary Services, CONSULTANT is acting as a fiduciary of the Plan and as a registered investment advisor under the Investment Advisers Act of 1940. In performing the Non -Fiduciary Services, CONSULTANT is not acting as a fiduciary of the Plan. (B) (C) In performing both Non -Fiduciary Services and Fiduciary Services, CONSULTANT does not act as, nor has CONSULTANT agreed to assume the duties of, a trustee or the Plan Administrator, and CONSULTANT has no discretion or responsibility to interpret the Plan documents, to determine eligibility or participation under the Plan, or to take any other action with respect to the management, administration or any other aspect of the Plan. Page 1 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF (D) CONSULTANT does not provide legal or tax advice. (E) Investments are subject to various market, political, currency, economic, and business risks, and may not always be profitable. As a result, CONSULTANT does not and cannot guarantee financial results. (F) CONSULTANT may, by reason of performing services for other clients, from time to time acquire confidential information. CITY acknowledges and agrees that CONSULTANT is unable to divulge to the CITY or any other party, or to act upon, any such confidential information for other clients with respect to its performance of this Agreement for the CITY. (G) CONSULTANT is entitled to rely upon all information provided to CONSULTANT (whether financial or otherwise) from reputable third parties or by CITY, CITY's representatives or third -party service providers to CITY, the Plan or CONSULTANT, without independent verification. CITY agrees to promptly notify CONSULTANT in writing of any material change in the financial and other information provided to CONSULTANT and to promptly provide any such additional information as may be reasonably requested by CONSULTANT. (H) CONSULTANT will not be responsible for voting (or recommending how to vote) proxies of any publicly traded securities (including mutual fund shares) held by the Plan (or its trust). Responsibility for voting proxies of investments held by the Plan or its trust remain with CITY (or, if applicable, the Plan participants). (I) CITY understands that CONSULTANT: (i) may perform other services for other clients, (ii) may charge a different fee for other clients, and (iii) may give advice and take action that is different for each client even when retirement plans are similar. 6. Representations of CITY. CITY represents and warrants as follows: (A) It is the responsible plan fiduciary for the control and/or management of the assets of the Plan, and for the selection and monitoring of service providers for the Plan. CONSULTANT is entitled to rely upon this statement until notified in writing to the contrary. (B) The person signing the Agreement on behalf of CITY has all necessary authority to do so. (C) The execution of this Agreement and the performance thereof is within the scope of the investment authority authorized by the governing instrument and/or applicable laws. The signatory on behalf of CITY represents that the execution of the Agreement has been duly authorized by appropriate action and agrees to provide such supporting documentation as may be reasonably required by CONSULTANT. (D) The Plan and related Trust permit payment of fees out of Plan assets. CITY has determined that the fees charged by CONSULTANT are reasonable and are the obligation of the Plan; however, if CITY desires, it may pay the fees directly, rather than with Plan assets. 7. Representation of CONSULTANT. CONSULTANT represents as follows: (A) CONSULTANT is registered as an investment adviser ("RIA") under the Investment Advisers Act of 1940. (B) The person signing this agreement on behalf CONSULTANT has the power and authority to enter into and perform this Agreement. (C) CONSULTANT agrees to take reasonable steps to protect Private Participant Information and Plan Investment Data in its possession; Page 2 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF (D) CONSULTANT is not responsible for the assessment of systems and procedures of third parties for the protection of plan and participant data; CONSULTANT is not responsible for the actions by or the failure to act by CITY, by other service providers, or by Plan participants to protect Data; CONSULTANT shall have no liability in the event of a Data breach or a violation of participant privacy rights (under the California Consumer Privacy Act or otherwise) unless said breach is the direct result of negligence, recklessness, or willful misconduct of an employee of CONSULTANT. CONSULTANT shall correspond and communicate to CITY only through CITY's authorized representatives responsible for overseeing this Agreement, which shall be limited to the City Manager, City Director of Finance, and any other persons in the CITY's Department of Finance as authorized in writing by the City Manager or City Director of Finance. CONSULTANT may from time to time ask for CITY to confirm the names and titles of said authorized representatives. 8. Standard of Care. (A) CONSULTANT will perform the Fiduciary Services described in Appendix B to the Plan in accordance with the standard of care of the prudent man rule set forth in the Investment Adviser Act of 1940. B) CONSULTANT will perform the Non -Fiduciary Services described in Appendix C using reasonable business judgment and shall not be liable for any liabilities and claims arising thereunder, unless directly arising from CONSULTANT's intentional misconduct or gross negligence. 9. Termination. Either party may terminate this Agreement upon 30 days prior written notice to the other party. Such termination will not, however, affect the liabilities or obligations of the parties arising from transactions initiated prior to such termination, and such liabilities and obligations (together with the provisions of section 8, 17, and 18) shall survive any expiration or termination of this Agreement. Upon termination, CONSULTANT will have no further obligation under this Agreement to act or advise CITY with respect to services under this Agreement. 10. Receipt of Disclosure and Consent to Electronic Delivery. CITY acknowledges receipt and undertakes to review and consider the disclosures made by CONSULTANT (including in this Agreement, the Form ADV Part 2 and CONSULTANT's Privacy Policy), in particular the portions related to services, compensation, and potential conflicts of interest, as well as the remainder of the disclosures concerning, among other matters, background information such as educational and business history, business practices such as the types of advisory services provided, the methods of securities analysis used, and the like. Further, CITY consents to electronic delivery (via email or other generally accepted method) of current and future distributions of CONSULTANT's Form ADV Part 2 and Privacy Policy. Consent to electronic delivery may be canceled at any time by sending a written request to CONSULTANT. 11. Notices. Any and all notices required or permitted under this Agreement shall be in writing and shall be sufficient in all respects if (i) delivered personally, (ii) mailed by registered or certified mail, return receipt requested and postage prepaid, or (iii) sent via a nationally recognized overnight courier service to the address in Appendix A and CONSULTANT's address 225 S. Lake Ave., Ste. 600, Pasadena, CA 91101, or such other address as any party shall have designed by notice in writing to the other party. Page 3 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF 12. Assignability. This Agreement is not assignable by either Party hereto without the prior written consent of the other Party. 13. Effect. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective heirs, successors, survivors, administrators and assigns. 14. Entire Understanding and Modification. This Agreement constitutes and contains the entire understanding between the parties and supersedes all prior oral or written statements dealing with the subject matter herein. This Agreement can be amended or modified by the written consent of the Parties. 15. Severability. If any one or more of the provisions of this Agreement shall, for any reason, be illegal or invalid, such illegality or invalidity shall not affect any other provision of this Agreement and this Agreement shall be enforced as if such illegal or invalid provision had not been contained herein. 16. Headings. All headings used herein are for ease of reference only and in no way shall be construed as interpreting, decreasing or enlarging the provisions of this Agreement. 17. Applicable Law; Forum. The laws of the State of California shall govern this Agreement in all respects, including but not limited to the construction and enforcement thereof, unless otherwise preempted or superseded by federal law. 18. Arbitration Agreement. To the extent permitted by law, all controversies between CITY and CONSULTANT, which may arise out of or relate to any of the services provided by CONSULTANT under this Agreement, or the construction, performance or breach of this or any other Agreement between CONSULTANT and CITY, whether entered into prior to, on or subsequent to the date hereof, shall be settled by binding arbitration in Pasadena, Los Angeles County, California, under the Commercial Arbitration Rules of the American Arbitration Association. Judgment upon any award rendered by the arbitrator(s) shall be final, and may be entered into any court having jurisdiction. 19. Amendment Process. The Agreement may be modified, by written agreement of both CITY and CONSULTANT. Page 4 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF 20. Waiver of Limitation. Nothing in this Agreement shall in any way constitute a waiver or limitation of any rights which CITY or Plan or any other party may have under federal or state securities laws. This Agreement constitutes both an agreement between the parties and a disclosure statement. The Parties have caused this Agreement to be executed by their duly authorized officers as of the date set forth above. This Agreement shall not be binding on CONSULTANT or the RIA until each has accepted it, in writing, as indicated by their signatures below. CITY: * Shuster Advisory Group, LLC: DocuSigned by: , DocuSigned by: C join, IliLGhatA, 1F96EA6FDB45414... ( yl S w.sfu /3 I1,5214 VULJt44S... Name: Jon McMillen Name: Mark Shuster Title: City Manager Title: Managing Member Date: 5/3/2023 Date: 5/3/2023 *The CITY is signing this Agreement both as the employer that sponsors the Plan and as the fiduciary responsible for selecting the Plan's investments and engaging its service providers. Page 5 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF APPENDIX A - CLIENT/PLAN SPONSOR - PLAN INFORMATION CITY/Plan Sponsor City of La Quinta Plan Name 1 City of La Quinta 45 7 (b) Plan Type of Plan Health Savings ■ 401(k) • 457(b) ■ 401(a) • 403(b) • Part-time Seasonal (OBRA) • Retiree • Defined Benefit Plan • Other: Plan Name 2 City of La Quinta 401(a) Plan Type of Plan Health Savings ■ 401(k) • 457(b) © 401(a) • 403(b) • Part-time Seasonal (OBRA) • Retiree • Defined Benefit Plan • Other: Plan Name 3 Type of Plan Health Savings ■ 401(k) ■ 457(b) ■ 401(a) ■ 403(b) • Part-time Seasonal (OBRA) • Retiree • Defined Benefit Plan • Other: Plan Name 4 Type of Plan Health Savings ■ 401(k) ■ 457(b) ■ 401(a) ■ 403(b) • Part-time Seasonal (OBRA) • Retiree • Defined Benefit Plan • Other: Plan Name 5 Type of Plan Health Savings ■ 401(k) ■ 457(b) ■ 401(a) ■ 403(b) • Part-time Seasonal (OBRA) • Retiree • Defined Benefit Plan • Other: Mailing Address 78-495 Calle Tampico City State La Quinta CA Zip Code 92253 Legal Address (0 Same as Mailing Address) City State Zip Code Page 6 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF APPENDIX B — FIDUCIARY SERVICES CONSULTANT will perform the following fiduciary services: 1. Development of an Investment Policy Statement (IPS). The IPS establishes the investment policies and objectives for the Plan(s), and shall set forth the asset classes and investment categories to be offered under the Plan(s), as well as the criteria and standards for selecting and monitoring the investments. The CITY shall have the ultimate responsibility and authority to establish such policies and objectives and to adopt the investment policy statement. 2. Consistent with the Investment Policy Statement, CONSULTANT will select the initial investment options within the Plan(s). 3. CONSULTANT will periodically review the investments within the Plan(s) and shall be responsible for making additions/deletions thereto. 4. CONSULTANT will provide periodic investment advisory reports that document consistency of fund management and performance to the guidelines set forth in the IPS, and to make recommendations to maintain, or remove and replace investment options. Reports to include: Market Overview, In -Depth Portfolio Summary, Plan Asset Allocation Analysis and Fund Performance Comparison to the Index. 5. Meet with CITY on a periodic basis to discuss reports and recommendations. 6. Annually review the IPS with the CITY to ensure it continues to meet the CITY's needs. 7. Selection of a default investment for participants who fail to make an investment election. 8. Coordinate the Deferred Compensation Committee meetings, record the meeting minutes and provide minutes to the attending members. LIMITATIONS ON FIDUCIARY SERVICES CONSULTANT shall not be responsible or liable for the recommendations of or services rendered by anyone other than CONSULTANT. The ability to perform the above services is contingent upon the rules, policies, processes, and responsiveness to our requests for information of CITY, Plan Sponsor, Record Keeper(s), and/or Third Party Administrator(s). Page 7 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF APPENDIX C - NON -FIDUCIARY SERVICES CONSULTANT will perform the following Non -Fiduciary services: 1. Provide Plan design consulting and Plan document review 2. Provide vendor management/issue resolution 3. Provide consulting assistance on fiduciary best practices 4. Assist in the transition of previous record-keeper(s) and/or Plan provider(s) 5. Provide custom communications when needed 6. Assist in communications with recordkeeper(s) and/or Plan provider(s) 7. Distribute Plan level newsletters 8. Provide RFP services and Plan fee negotiations 9. Incumbent vendor and fee review 10. Contract review support 11. Employee education 12. Provide assistance with mandatory and optional legislative changes LIMITATIONS ON NON -FIDUCIARY SERVICES CONSULTANT shall not be responsible or liable for the recommendations of or services rendered by anyone other than CONSULTANT. CONSULTANT and CITY/Plan Sponsor will work together to determine mutually agreed upon for services requiring both parties coordinate and/or attend. The ability to perform the above services is contingent upon the rules, policies, processes, and responsiveness to our requests for information of CITY, Plan Sponsor, Record Keeper(s), and/or Third -Party Administrator(s). Page 8 of 9 DocuSign Envelope ID: 112ED7EA-054F-41AC-AFA8-FCA37AF5B8DF APPENDIX D - FEE SCHEDULE 1. All fees are billed in arrears. 2. The initial fee will be the amount, prorated for the number of days included in the initial billing period from the effective payment start date. 3. If this Agreement is terminated prior to the end of a billing period, CONSULTANT shall be entitled to a fee, prorated for the number of days in the billing period prior to the effective date of termination. 4. All fees will be due and payable within 30 days and are payable to "Shuster Advisory Group, LLC" 5. The annual fee for services shall be as follows: Beginning with the Effective Date of this Agreement and continuing until the earlier of the date the plans are converted to a new record -keeper and assets from the prior record -keeper are transferred, the date the plans are converted to a new record -keeper and the first payroll deferral is processed by the new record -keeper, or the date it is decided to remain with the incumbent record -keeper and new pricing is implemented, if applicable, (hereafter known as the "Conversion Date") the fee for service shall be $833.33 per month. Fees will accrued and be paid from Plan assets to CONSULTANT by the record keeper upon the Conversion Date. After the "Conversion Date", the fee for service shall be $833.33 per month. Fees will be deducted from Plan assets and will be paid to CONSULTANT by the record -keeper. At CONSULTANT's discretion the billing period described above may be adjusted to quarterly. Page 9 of 9 DocuSign Certificate Of Completion Envelope Id: 112ED7EA054F41ACAFA8FCA37AF5B8DF Subject: Complete with DocuSign: City of La Quinta Advisory Agreement Source Envelope: Document Pages: 9 Signatures: 2 Certificate Pages: 5 Initials: 0 AutoNav: Enabled Envelopeld Stamping: Enabled Time Zone: (UTC-08:00) Pacific Time (US & Canada) Status: Completed Envelope Originator: Mark Shuster 225 S. Lake Ave Suite 600 Pasadena, CA 91101 mshuster@sfgrpc.com IP Address: 107.150.185.205 Record Tracking Status: Original 5/2/2023 4:56:30 PM Holder: Mark Shuster mshuster@sfgrpc.com Location: DocuSign Signer Events Signature Timestamp Jon McMillen jmcmillen@laquintaca.gov Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Accepted: 5/3/2023 9:24:26 AM ID: a8de9e5d-ae6e-458c-853d-f66f854da992 Mark Shuster mshuster@sfgrpc.com Managing Partner 6265780816 Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via DocuSign ,—DocuSigned by: jet& 7 y o yULLw. 1F96EA6FD845414... Signature Adoption: Pre -selected Style Using IP Address: 47.176.173.154 r—DocuSigned by: kat SLU,tstu 73188AF90E3E443... Signature Adoption: Pre -selected Style Using IP Address: 107.150.185.205 Sent: 5/2/2023 5:01:20 PM Viewed: 5/3/2023 9:24:26 AM Signed: 5/3/2023 9:25:50 AM Sent: 5/2/2023 5:01:20 PM Viewed: 5/3/2023 5:23:57 PM Signed: 5/3/2023 5:24:01 PM In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp Carl Steinhilber csteinhilber@sfgrpc.com Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via DocuSign COPIED Sent: 5/2/2023 5:01:20 PM Viewed: 5/3/2023 6:05:26 AM Carbon Copy Events Status Timestamp Carla Triplett ctriplett@laquintaca.gov Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via DocuSign Claudia Martinez cmartinez@laquintaca.gov Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via DocuSign JoAnn Parrino jparrino@sfgrpc.com Shuster Advisory Group, LLC Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Accepted: 7/6/2022 5:52:34 PM ID: a183bcf8-2cdc-4dc5-8556-9d7c098d2cdf Sarah Yauchzee syauchzee@sfgrpc.com Security Level: Email, Account Authentication (None) Electronic Record and Signature Disclosure: Not Offered via DocuSign COPIED COPIED COPIED COPIED Sent: 5/2/2023 5:01:21 PM Viewed: 5/2/2023 6:30:27 PM Sent: 5/2/2023 5:01:21 PM Viewed: 5/2/2023 6:39:44 PM Sent: 5/2/2023 5:01:22 PM Sent: 5/2/2023 5:01:22 PM Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Certified Delivered Signing Complete Completed Hashed/Encrypted Security Checked Security Checked Security Checked 5/2/2023 5:01:22 PM 5/3/2023 5:23:57 PM 5/3/2023 5:24:01 PM 5/3/2023 5:24:01 PM Payment Events Status Timestamps Electronic Record and Signature Disclosure Electronic Record and Signature Disclosure created on: 4/16/2019 4:03:54 PM Parties agreed to: Jon McMillen, JoAnn Parrino ELECTRONIC RECORD AND SIGNATURE DISCLOSURE From time to time, 6265780816 (we, us or Company) may be required by law to provide to you certain written notices or disclosures. Described below are the terms and conditions for providing to you such notices and disclosures electronically through the DocuSign system. Please read the information below carefully and thoroughly, and if you can access this information electronically to your satisfaction and agree to this Electronic Record and Signature Disclosure (ERSD), please confirm your agreement by selecting the check -box next to `I agree to use electronic records and signatures' before clicking `CONTINUE' within the DocuSign system. Getting paper copies At any time, you may request from us a paper copy of any record provided or made available electronically to you by us. You will have the ability to download and print documents we send to you through the DocuSign system during and immediately after the signing session and, if you elect to create a DocuSign account, you may access the documents for a limited period of time (usually 30 days) after such documents are first sent to you. After such time, if you wish for us to send you paper copies of any such documents from our office to you, you will be charged a $0.00 per -page fee. You may request delivery of such paper copies from us by following the procedure described below. Withdrawing your consent If you decide to receive notices and disclosures from us electronically, you may at any time change your mind and tell us that thereafter you want to receive required notices and disclosures only in paper format. How you must inform us of your decision to receive future notices and disclosure in paper format and withdraw your consent to receive notices and disclosures electronically is described below. Consequences of changing your mind If you elect to receive required notices and disclosures only in paper format, it will slow the speed at which we can complete certain steps in transactions with you and delivering services to you because we will need first to send the required notices or disclosures to you in paper format, and then wait until we receive back from you your acknowledgment of your receipt of such paper notices or disclosures. Further, you will no longer be able to use the DocuSign system to receive required notices and consents electronically from us or to sign electronically documents from us. All notices and disclosures will be sent to you electronically Unless you tell us otherwise in accordance with the procedures described herein, we will provide electronically to you through the DocuSign system all required notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you during the course of our relationship with you. To reduce the chance of you inadvertently not receiving any notice or disclosure, we prefer to provide all of the required notices and disclosures to you by the same method and to the same address that you have given us. Thus, you can receive all the disclosures and notices electronically or in paper format through the paper mail delivery system. If you do not agree with this process, please let us know as described below. Please also see the paragraph immediately above that describes the consequences of your electing not to receive delivery of the notices and disclosures electronically from us. How to contact 6265780816: You may contact us to let us know of your changes as to how we may contact you electronically, to request paper copies of certain information from us, and to withdraw your prior consent to receive notices and disclosures electronically as follows: To contact us by email send messages to: mshuster@sfgrpc.com To advise 6265780816 of your new email address To let us know of a change in your email address where we should send notices and disclosures electronically to you, you must send an email message to us at mshuster@sfgrpc.com and in the body of such request you must state: your previous email address, your new email address. We do not require any other information from you to change your email address. If you created a DocuSign account, you may update it with your new email address through your account preferences. To request paper copies from 6265780816 To request delivery from us of paper copies of the notices and disclosures previously provided by us to you electronically, you must send us an email to mshuster@sfgrpc.com and in the body of such request you must state your email address, full name, mailing address, and telephone number. We will bill you for any fees at that time, if any. To withdraw your consent with 6265780816 To inform us that you no longer wish to receive future notices and disclosures in electronic format you may: i. decline to sign a document from within your signing session, and on the subsequent page, select the check -box indicating you wish to withdraw your consent, or you may; ii. send us an email to mshuster@sfgrpc.com and in the body of such request you must state your email, full name, mailing address, and telephone number. We do not need any other information from you to withdraw consent.. The consequences of your withdrawing consent for online documents will be that transactions may take a longer time to process.. Required hardware and software The minimum system requirements for using the DocuSign system may change over time. The current system requirements are found here: https://support.docusign.com/guides/signer-guide- signing-system-requirements. Acknowledging your access and consent to receive and sign documents electronically To confirm to us that you can access this information electronically, which will be similar to other electronic notices and disclosures that we will provide to you, please confirm that you have read this ERSD, and (i) that you are able to print on paper or electronically save this ERSD for your future reference and access; or (ii) that you are able to email this ERSD to an email address where you will be able to print on paper or save it for your future reference and access. Further, if you consent to receiving notices and disclosures exclusively in electronic format as described herein, then select the check -box next to `I agree to use electronic records and signatures' before clicking `CONTINUE' within the DocuSign system. By selecting the check -box next to `I agree to use electronic records and signatures', you confirm that: • You can access and read this Electronic Record and Signature Disclosure; and • You can print on paper this Electronic Record and Signature Disclosure, or save or send this Electronic Record and Disclosure to a location where you can print it, for future reference and access; and • Until or unless you notify 6265780816 as described above, you consent to receive exclusively through electronic means all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you by 6265780816 during the course of your relationship with 6265780816. ADDENDUM TO RETIREMENT PLAN CONSULTING SERVICES AGREEMENT by and between SHUSTER ADVISORY GROUP, LLC ("CONSULTANT") and the CITY OF LA QUINTA ("CITY") In accordance with Section 19 Amendment Process of the above -referenced Agreement, this ADDENDUM is entered into by Consultant and City, effective May 1, 2023, and is hereby incorporated into the Agreement, and modifies said Agreement by addition the following terms and conditions: Section 2. Term. The term of this Agreement shall commence on May 1, 2023, and terminate on June 30, 2026 ("Initial Term"). This Agreement may be extended for two additional year(s) upon mutual agreement by both parties ("Extended Term"), and executed in writing. Section 20. Insurance. Prior to the beginning of and throughout the duration of the Agreement, the following policies shall be maintained and kept in full force and effect providing insurance with minimum limits as indicated below and issued by insurers with A.M. Best ratings of no less than A -VI: Commercial General Liability (at least as broad as ISO CG 0001) $1,000,000 (per occurrence) $2,000,000 (general aggregate) Must include the following endorsements: General Liability Additional Insured General Liability Primary and Non-contributory Errors and Omissions Liability $1,000,000 (per claim and aggregate) Workers' Compensation (per statutory requirements) Must include the following endorsements: Workers Compensation with Waiver of Subrogation Workers Compensation Declaration of Sole Proprietor if applicable Cyber Liability $1,000,000 (per occurrence) $2,000,000 (general aggregate) Section 21. Indemnification. The Consultant shall indemnify and hold harmless the City, its Council, members of the Council, agents and employees of the City, against any and all claims, liabilities, (including liability related to exposure to communicable diseases, illnesses, or viruses), expenses or damages, including responsible attorneys' fees, for injury or death of any person, or damage to property, or interference with use of property, or any claim of the Consultant or subcontractor for wages or benefits which arise in connection with the performance of this Agreement, except to the extent caused or resulting from the active negligence or willful misconduct of the City, its Council, members of the Council, agents and employees of the City. The foregoing indemnity includes, but is not limited to, the cost of prosecuting or defending such action with legal counsel acceptable to the City and the City's attorneys' fees incurred in such an action IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on the day and year first above written. CITY OF LA QUINTA a California Municipal Corporation, and Charter City JON Mc f III -Et EN, City Manager Date: WI 0 z z, ATTEST: MONIKA RADEVA, City CI City of La Quinta, California APPROVED AS TO FORM: WILLIAM H. IHRKE, City Attorney City of La Quinta, California SHUSTER ADVISORY GROUP, LLC MARK SHUSTER, *Aanaging Member Date: (,o/zto/7 ?