City Council Meeting Date: July 21, 2026
Date: July 9, 2026
To: Erin Rinehart, City Manager
From: Samantha Dean, Workforce Services Director
Chrystal Davis, Assistant City Manager
Title
Consider Authorizing the City Manager to Execute a Contract Amendment with MissionSquare Retirement Extending the Existing Agreement for Plan Record Keeping Services for A Period Not to Exceed 180 Days.
Body
Background:
The City currently has a contract with MissionSquare Retirement for plan record keeping services, which is scheduled to expire on August 31, 2026. Staff is in the process of completing a competitive procurement and negotiating a successor agreement. Additional time is needed to complete the procurement process and ensure a seamless transition of services.
The proposed amendment would extend the existing contract for up to 180 days under the current terms and conditions, or with any mutually agreed-upon modifications necessary to facilitate the extension. This extension will allow MissionSquare Retirement to continue providing uninterrupted services while the City completes the procurement process and presents a new agreement to the City Council for consideration.
Financial Implications:
The record keeper of the various plans is compensated through participant fees based generally on the investment balances of each participant. There is no financial impact to the City.
Impact on Community Sustainability:
Ensure City services are an optimal value.
Staff Recommendation/Action Desired:
Staff recommends that City Council authorize the City Manager to execute a contract amendment with MissionSquare Retirement extending the existing agreement for plan record keeping services for a period not to exceed 180 days.