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DHA Resolution 2023-03 Approval to Amend Employee Retirement Fund

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DUPAGE HOUSING AUTHORITY
RESOLUTION NO. 2023-03
A RESOLUTION AMENDING DUPAGE HOUSING AUTHORITY RETIREMENT PLAN

WHEREAS, DuPage Housing Authority currently has some of the employee retirement monies in Vanguard index funds administered by Empower Retirement, LLC and

WHEREAS, by moving the index funds to Fidelity Investments, LLC, which are in the Empower Select Plan, an organizational cost savings for both Empower and Cutler Financial Group, Inc. would be realized and

WHEREAS, DuPage Housing Authority would save approximately fifty (50) basis points or 1.15% annually at the participants level and

WHEREAS, it would be in the best interest of DuPage Housing Authority for the Board of Commissioners to take the following action:

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the DuPage Housing Authority, DuPage County, Illinois as follows:

SECTION 1.

  • Approve the transfer of index funds from Vanguard to Fidelity.

SECTION 2.

  • This Resolution is effective upon its passage.

APPROVED this 19th day of January, 2023.