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Home My WebLink About72-76 RESOLUTION4 S RESOLUTION No. 7c2 --no A RESOLUTION ESTABLISHING A DEFERRED COMPENSATION PLAN FOR UNCLASSIFIED CITY EMPLOYEES WHEREAS, the International City Management Association Retirement Corporation' offers a Deferred Compensation Plan which assures reasonable retirement security; and WHEREAS, said plan provides benefits to the City by increasing its ability to attract and retain competent personnel and by increasing its flexibility in personnel management; and WHEREAS, the City Board of Directors desires that certain employees be eligible to participate in said Deferred Compensation Plan. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That unclassified City employees, except for unclassified employees who are employed in the Police and Fire departments, and unclassified employees who are participants of the Fayetteville City Employees Retirement Plan, shall be permitted an option to join the International City Management Association Deferred Compensation Plan. Section 2. That financial participation by the City shall be to the same extent of financial participation which would apply if the employee elected to join the Fayetteville City Employees Retirement Plan. Section 3. That the City Manager be authorized to execute the "Joinder Agreements" on behalf of each participating employee and that he is hereby declared as the Official to whom coreespondence and reports are to by mailed on behalf of the City as Employer. Section 4. That the Mayor and City Clerk be authorized to execute the International City Management Association Retirement Corporation Deferred Compensation Plan Agreement, amended as of June 28, 1974, attached hereto marked Exhibit "A" and made: a part hereof. PASSED AND APPROVED THIS p?/,ay-" DAY OF Q 1976. APPROVED: 2 e-- 2()_ Mayor ATTEST: City Clerk i • a i INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION DEFERRED COMPENSATION PLAN Amended as of June 28, 1974 THIS DEFERRED COMPENSATION PLAN, hereby established by hereinafter the Employer; by agreements with the International City Management Association Retirement Corporation. E ...it the ernployees, officers, and officials of said employer who become party to this agreement, by reason of a "Joinder Agn_emett" signed at this time, or at some time in the future. WHEREAS. the Employer has certain employees rendering to it valuable services; and WHEREAS, the Employer is able to provide its employees with certain benefits under this Pian which assure to those participating employees reasonable retirement security; and WHEREAS, the Employer receives benefits from this Plan by increasing its ability to attract and retain competent personnel and by increasing its flexibility in personnel management. NOW THEREFORE WITNESSETH that the Employer has established this International City Management Association Re:i:ement Corporation Deferred Compensation Plan and has caused it to be executed by the official affixing his signature on behalf of the Employer's governing body. Conversion Provision: Where an Employer has previously established the ICMA-RC deferred compensation plan for its a^oloyees, this Pian shall supercede all previous documents and provisions thereof except that existing deferred compensation an oymen! agreements will continue in full force and effect in lieu of Part I of this plan, and as such, have the immediate force and e=fect of a "Joinder Agreement" to this Plan. IF the Employer and Employee desire to amend the existing Deferred Compensation EmVoyme.,t Agreement by substituting Part 1 of this Pian therefor, this may be done by execution of a "Joinder Agreement'. For the Employer' Attest for Employer: By: Signature of Authorized Official/Date Signature of Authorized Official Print Name and Title (Seat) 1 x/ /I ID L 1 f" 29 Approved as to Form: Attorney for the Employer Attest for ICMA-Retirement Corporation For the ICMA Retirement Corporation Y'.namrt of Autnori ^d Officio' (Seal/ By. Sige.:in re of At riz C. Lei at'Dz;e s CcropL to the following prior to mailing this agreement to the Retirement Corporation Foli Name (City of, Coon 'ye of etc 1' Tittls of Official to v,hom correspondence and repurts are to he nailed: root (ame) bnclud: zip cod 1 Fciiera' Tax Identi!ixatinn Number: