Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 23-226, authorizing the County Executive to sign the Smart Alliance Agreement for Investment Advisory Services between Snohomish County and Nationwide Investment Advisors, LLC
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DEPARTMENT: Finance
ORIGINATOR: Nathan Kennedy
EXECUTIVE RECOMMENDATION: Approved by Ken Klein 5/24/23
PURPOSE: Authorizing the County Executive to sign the Smart Alliance agreement for investment advisory services between Snohomish County and Nationwide Investment Advisors, LLC
BACKGROUND: The County’s Deferred Compensation Committee seeks approval of the Smart Alliance contract that will engage Nationwide Investment Advisors, LLC to provide non-discretionary investment advice to the County’s Deferred Compensation Plan with respect to the investment fund lineup.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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DEPARTMENT FISCAL IMPACT NOTES: Plan participants pay contractor based on their balance on a daily basis. No County funds are used.
CONTRACT INFORMATION:
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ORIGINAL |
X |
CONTRACT# |
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AMOUNT |
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AMENDMENT |
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CONTRACT# |
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AMOUNT |
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Contract Period
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ORIGINAL |
START |
Upon Execution |
END |
Upon termination of original agreement |
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AMENDMENT |
START |
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END |
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Approved by Finance - Nathan Kennedy 5/23/23