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b <br />CITY t~F FALCON HEi~?iT5 <br />C4T3~iC IL RESOLUT k02~ <br />No. R87-25 <br />_, Date June 24, 1987 _ <br />_--~ ___._-__ --•--_-_._------------------_--__----___________-_--__---------__v-~.----------__-_-__-_--___--_ <br />A RESOLUTION RELATING TO CREATING A DEFERRED COMPENSATION PLAN <br />AND DESIGNATING ICMA AS TRUSTEE. <br />WHEREAS, the Employer has employees rendering valuable services; and <br />WHEREAS, the establishment of a deferred compensation plan for such employees will <br />serve the interests of the Employer by enabling it to provide reasonable re- <br />tirement security for its employees, by providing increased flexibility in its <br />personnel management system, and by assisting in the attraction and retention of <br />competent personnel; and <br />WHEREAS, the Employer has determined that the establishment of a deferred compen- <br />sation plan be administered by the ICMA Retirement Corporation, as Trustee, with <br />the understanding that such funds will be held by the ICMA Retirement Trust, a trust <br />established by public employers for the purpose of representing the interests of <br />such employers with respect to the collective investment of funds held under their <br />deferred: compensation plans: <br />NOW THEREFORE BE IT RESOLVED that the Employer adopts the deferred compensation <br />plan, attached hereto as Appendix A, and appoints the ICMA Retirement Corporation <br />to serve as Administrator thereunder; and <br />BE IT FURTHER RESOLVED that the Employer hereby executes the ICMA Retirement Trust <br />attached hereto as Appendix B; and <br />BE IT FURTHER RESOLVED that the Employer hereby adopts the trust agreement, attached <br />hereto as Appendix C, and appoints the ICMA Retirement Corporation as Trustee <br />thereunder, and directs the ICMA Retirement Corporation, as Trustee, to invest all <br />funds held under the deferred compensation plan through the ICMA Retirement Trust <br />as soon as is practicable; and <br />BE IT FURTHER RESOLVED that the Clerk Administrator shall be the coordinator for <br />this program and shall receive necessary reports, notices, etc. from the ICMA <br />Retirement Corporation as Administrator, and shall cast, on behalf of the Employer, <br />any required votes under the program. Administrative duties to carry out the <br />plan may be assigned to the appropriate departments. <br />Moved by Wallin <br />Seconds=d by Chenoweth <br />.~~ <br />Approved by ,fJ~1 -y~~~/1~~2~ <br />Mayor <br />a_e <br />as Nays , <br />BALDWI'N ~_In Favor <br />clE~aIA <br />(absent;)tfARP. O Against <br />CHEiJ04JETH <br />~7?ALL IPd <br />Attested by ~~ ` <br />Clerk Admin. <br />~a~r <br />~_+'~ (~~ i> ` i°_ .~ D `: C ,^. ~ t it i_ 1 <br />