To the extent permitted by law, the Board, the individual members of the Board and the City's personnel who engage in the administration of the DC Plans shall be indemnified and held harmless against any and all liabilities (including defense costs and expenses) arising by reason of an act or failure to act in their fiduciary and administrative capacities to the DC Plans, and for liability and costs resulting from the acts and omissions of their duly appointed agents, except for those acts, omissions, or conduct resulting from their own willful misconduct, willful failure to act, or gross negligence. The City may procure fiduciary liability insurance designed to fund the indemnification provided by this section, and may charge the cost of such insurance to the DC Plans as a reasonable expense of administration. The City shall be liable for indemnification under this section only to the extent that the liability exceeds the amount available through the DC Plans' fiduciary liability insurance.
(Ord. 11937, § 1, 7-12-22)