HomeMy WebLinkAboutCC RES 77-027 RESOLUTION ESTABLISHING DEFERRED COMPENSATION PLANS FOR EMPLOYEES Meeting Sheet
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105612
Box: 35
Folder: CC RES 1977
Document: CC RES 77-027 RESOLUTION ESTABLISHING DEFERRED
COMPENSATION PLANS FOR EMPLOYEES
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RESOLUTION #77-027
Whereas, the City has in its employ certain personnel; and
Whereas, said employees are and will be rendering valuable
services to the City and,
Whereas, the City has considered the establishment of Deferred
Compensation Plans for said employees and desired to make available
to said employees the plan of the International City Management
Association Retirement Corporation; and
Whereas, said employees often are unable to acquire retirement
security under other existing and available retirement plans due to
the contingencies of employment mobility; and
Whereas, the City receives benefits under said plans by being
able to assure reasonable retirement security to said employees, by
being more able to attract competent personnel to its service, and
by increasing its flexibility in personnel management through elimin-
ation of the need for continued employment for the sole purpose of
allowing an employee to qualify for retirement benefits.
Now Therefore, Be It Resolved that the City establish said De-
ferred Compensation Plan for said employees and hereby authorizes
its Mayor to execute the Deferred Compensation Plan with the Inter-
national City Management Association Retirement Corporation, attached
hereto as Appendix A and,
Be It Further Resolved that the City Manager may, on behalf of
the City execute all Joinder Agreements with said employees and other
eligible officials and officers, which as necessary for said persons
participation in the plan, one example which appears at Appendix B,
except that any Joinder Agreement for said designated official shall
be executed by the Mayor.
Mayr_
ATTEST:
City Clerk
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