DHA Resolution 2022-20 Reallocate Empower funds

DUPAGE HOUSING AUTHORITY
RESOLUTION NO. 2022-20
APPROVAL TO REALLOCATE EMPOWER PLAN-02-401A (FORFEITURE FUNDS)

BE IT RESOLVED BY THE MEMBERS OF THE DUPAGE HOUSING AUTHORITY (DHA), as follows:

• Section 1:
  DHA retirement benefit administration with Empower (Empower Plan-02) has been reviewed and found to currently hold $51,144.68 from employer forfeitures.
  
  
• Section 2:
  Upon consultation with Cutler Financial Group, Inc., it was recommended to reallocate the forfeiture funds to offset the DHA 401A contributions or offset the fees.

Therefore, the Board of Commissioners of the DuPage Housing Authority authorizes the Executive Director, or her designee, to reallocate the forfeiture funds to save budgetary costs for the agency.

• Section 3:
  This Resolution is effective upon its adoption.

Approved by the DuPage Housing Authority Board of Commissioners on the 17th day of November 2022.