Speaker 3: Agenda item four Council Vote 1193 ten Relating to the City Seattle's Volunteer Deferred Compensation Plan amending Section 2.5 of the Deferred Compensation Plan to clarify existing immunity from liability for offering certain investment options. The committee recommends the bill passed.
Speaker 0: Good. Thank you. Colleagues, this is one of the simplest ones we're going to have in front of us today. This ordinance amends something that's already in our law, but it will, by adding a phrase from the selection of the investment options offered under the plan, provide a level of immunity from liability right here.
Speaker 7: Oh, my gosh.
Speaker 1: Thank you. Thank you.
Speaker 4: Colleagues, they're going to do some work there. Some work.
Speaker 0: Here. I'm sure everybody heard that. So I'm going to move forward.
Speaker 1: We just heard that this is an easy part. I think. Can we please report that? Rebecca Sharp. All right.
Speaker 0: Absolutely. This council will 119310 would provide a level of protection for members of our 457, which is our voluntary savings portion and investment options for city employees. This is consistent with what other cities have done. It just provides a level of immunity for the board members. And it should they select socially responsible funds into which people can choose to invest. So that's what this does. And I recommend that we move forward with its adoption.
Speaker 1: Very good. Thank you very much. Any other questions or comments on this bill? If not, please call the rule on the passage of the bill.
Speaker 0: I.
Speaker 1: Whereas she said, I.
Speaker 0: I'm sorry. Sorry. Let's get to I. O'Brien.
Speaker 2: All right.
Speaker 0: Sergeant. BEGALA Hi. Gonzales Hi. Herbold. President Harrell. Seven in favor.
Speaker 1: Nine opposed the bill passed in show Senate. Please read agenda item number five.
Speaker 3: Agenda item five Council vote 1193 12. Really into the city employment adopting 2018 City Requisition List Committee recommends the bill pass.
AN ORDINANCE relating to The City of Seattle’s Voluntary Deferred Compensation Plan; amending Section 2.5 of the Deferred Compensation Plan to clarify existing immunity from liability for offering certain investment options.