Timeline
Related documents
What is Being Proposed?
The Budget and Finance Committee is recommending that the Los Angeles City Council authorize the City Attorney to enter into three-year contracts with three law firms: Groom Law Group, Kutak Rock, LLP, and Nossaman, LLP. These firms will provide fiduciary counsel services to the Board of Deferred Compensation Administration. The initial funding for these contracts is $30,000, which will be split jointly or severally across all three firms.
Background and Rationale
The document does not explicitly state the rationale for why these legal services are needed. However, fiduciary counsel services typically provide legal advice on matters of trust and responsibility in managing benefits or assets. In this case, the services support the Board of Deferred Compensation Administration, which oversees the city's deferred compensation program for employees.
Key Details
Contract term: Three years Initial funding: $30,000 total (shared among the three firms) Funding source: Board of Deferred Compensation Administration budget Committee vote: Unanimous approval (5-0) on November 4, 2025 Status: Not official until the full City Council acts on this recommendation
Impact
This arrangement affects the city's deferred compensation program participants by ensuring they have specialized legal oversight. Notably, no formal fiscal impact statement or community impact statement was submitted, and neither the City Administrative Officer nor the Chief Legislative Analyst has completed a financial analysis of the proposal.
What is Being Proposed
The City Attorney's Office is requesting City Council authorization to enter into three-year contracts with three law firms—Groom Law Group, Kutak Rock LLP, and Nossaman LLP—to provide fiduciary counsel services for the Board of Deferred Compensation Administration. An initial budget of $30,000 is requested to be split jointly or severally among the three firms, with funding coming from the Deferred Compensation Plan itself.
Why This is Needed
The City Attorney's Office determined that the Board of Deferred Compensation Administration requires specialized outside legal counsel with fiduciary expertise. These law firms will provide guidance on fiduciary responsibilities and related legal matters. The request is being submitted as a closed-session item under California Government Code Section 54956.9(d)(1), suggesting sensitive personnel or legal considerations warrant confidential discussion.
Key Details
Report Number: R25-0515 (dated October 15, 2025) Contract Duration: Three years Initial Budget: $30,000 (subject to potential supplemental funding if needed) Funding Source: Deferred Compensation Plan Contact: Assistant City Attorney Charles Hong at (213) 978-7782
Impact
This affects City of Los Angeles employees who participate in the Deferred Compensation Plan. The specialized legal counsel will help ensure the plan operates in compliance with fiduciary laws, protecting plan participants' retirement savings and ensuring proper plan administration.