HomeMy WebLinkAboutRES 81-065 RESOLUTION APPROVING ELECTION OF DAVID M. CHILDS TO BE EXCLUDED FROM THE PUBLIC EMPLOYEES RETIREMNENT ASSOCIATION Meeting Sheet
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102636
Box: 23
Folder: RES 1981
Document: RES 81-065 RESOLUTION APPROVING ELECTION OF DAVID
M. CHILDS TO BE EXCLUDED FROM THE PUBLIC EMPLOYEES
RETIREMNENT ASSOCIATION
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RESOLUTION 81-065
A RESOLUTION APPROVING ELECTION OF
DAVID M. CHILDS
TO BE EXCLUDED FROM THE PUBLIC EMPLOYEES
RETIREMENT ASSOCIATION
WHEREAS., David M. Childs has notified. the City Council of his
election to be excluded from-membership in the Public Employees
Retirement Association:.and has. provided .this Council with a copy
of his written election to do .,
so., all as authorized by Minnesota
Laws 1981, Chapter 245., (Minn.. Stats . 353 .025) ;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of St. Anthony, as follows:
1. The Council makes the following findings :
(a) David M. Childs. is the City Manager of- the City of
St. Anthony, Minnesota.
(b)- That position is provided for in. the City Code of
the City of St. Anthony.
(_c) He was duly appointed to serve in that position
effective August 17 , 1981 , and he. has held that
position- continuously since that date.
(d) The City Manager is the chief administrative officer
of the City of St. Anthony.
(e) Acting under Minnesota Laws 1981, Chapter 254
(Minn.' Stats. 353 . 0.25) . he has elected to be excluded
from membership in the Public Employees Retirement
Association, effective uponhisfiling such election
with the Executive Director of that association.
(f) In making this election he has agreed that he will
not . at any time in the future seek any authorization
to purchase service credit for any period of excluded
service. He has further agreed that this election
is irrevocable.
2 . Said election is therefore approved.
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3 . A certified copy of this Resolution shall be provided to
the Executive Director of: said association.
Adopted this $ day of Sekembc--r , 1981.
Mayor-
ATTEST:
ayor.ATTEST:
City Clerk
Reviewed for administration:
City Manager
01
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AGREEMENT RELATING TO
DEFERRED COMPENSATION
THIS AGREEMENT made and entered .into this -L=r- day of
1981, .by and between City of St. Anthony, a Minnesota munic�al
corporation C"City"). and .David M. Childs , a natural person serving in
the capacity of .City Manager of City (-' Childs") , WITNESSETH:
WHEREAS , Childs has elected to be excluded from membership in the
Public Employees Retirement Association of the State of Minnesota,
which election has been approved by the City Council of the City; and
WHEREAS , both City and Childs are desirous of having an amount equal
to the employer contribution which would be required by Minnesota
Statutes , Section 353 .27 , Subdivision 3 , if Childs were a member of
the Association, added to his other compensation, of whatever kind or
nature, and contributed on behalf of the City Manager to a deferred
compensation program which meets the requirements of Section 457 of
the Internal Revenue Code of 1954 , as amended through December 31 ,
1980; and,
WHEREAS , the fund of the International City Management Association-
Retirement- Corporation- qualifies as such a fund;
NOW THEREFORE., City aiid Childs agree as follows :
i1. City agrees to increase Childs.' compensation in an amount
equal to the employer contribution which would be required
by Section. 353 . 27, Subdivision 3 , if the City Manager were
a member of the Public. Employees Retirement. Association.
This compensation shall be in addition to his stated .Salary
now in effect or which may hereafter be established from
time to time.
2. City and Childs agree that such additional compensation is to
be- deferred and shall. be contributed on behalf of Childs
to the. deferred compensation fund .of the International City
Management Association-Retirement Corporation.
3 . The provisions of this agreement are effective immediately
upon the effective date of Childs ' election to be excluded
from membership in the Public Employee' s Retirement Association.
IN WITNESS WHEREOF, t e parties hereto have executed this agreement
this qtld day of� 1981.
WITNESSED BY: CITY OF ST. ANTHONY
By
Its Mayor
i
David M. Childs , Ci y Manager