HomeMy WebLinkAboutRES 88009MESOLUTION 29669-
10,19
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS
ESTABLISHING A DEFERRED COMPENSATION PLAN FOR THE EMPLOYEES OF SAID
CITY; ADOPTING AND EXECUTING A TRUST AGREEMENT; AND APPOINTING THE CITY
MANAGER AS COORDINATOR FOR THIS PROGRAM.
WHEREAS,the City Council of the City of Georgetown, Texas (the
"City") has employees rendering valuable -services; and
WHEREAS,# deferred compensation
attractionemployees will serve the interests of the City by enabling it to provide
reasonable retirement security for its employeest by providing increased
flexibility in its personnel management system, and by assisting in the
:! retention of ;:: ;:^ personnel; and
WHEREAS, the City has determined that the establishment of a
deferred compensation plan to be administered by the ICMA Retirement
Corporation n") will serve the above objectives; and
WHEREAS, the City desires that the investment of funds held under
its deferred compensation plan be administered by the Corporation, as
Trustee, with the that such funds will be held by the ICMA
M`- understanding established by public employers e
collectiver the
purpose of representing the interests off such employers with respect to
the of s_ their deferred
compensation plans*
1. The City Council of the City of Georgetown, Texas (-the "City`)
adopts the deferred compensation plan, attached hereto as Appendix "A",
and appoints the ICMA Retirement Corporation (the "Corporation") to
serve as Administrator thereunder; and
2. The City hereby executes the ICMA Retirement Trust, attached
hereto as Appendix "B"; and
3. The City hereby adopts the trust agreement, attached hereto as
Appendix "C", and appoints the Corporation as Trustee thereunder, and
directs the Corporation,to invest all funds held under
deferred compensation plan throughthe 1CMA Retirement ;•
practicable,is •
4. The City Manager shall be the coordinatorfor program
reportsshall receive necessary ; from e #e e
as Administrator, and shall cast,on behalf of any
deferred compensation plan resolution(csf 011288.res) page 1 of 2
Adopted this 12A
day of 1988.
Jim Colbert, Mayor
Leta F. Willoughby, Ci Secr tary
t.
I , being the current City Secretary of the City of
Georgetown do hereby certify the as is a true and correct copy of a
resolution of the City Council of the City of Georgetown and such
resolution was duly adopted at a meeting open to the public and notice
of said meeting, giving the date, place, and subject thereof, was posted
as prescribed by Article 6252-17, Section 3A, VATCS.
Dated this day •
(City Seal)
ity Secretary
w
deferred compensation plan resolution(csf 011288.res) page 2 of 2
RECEIVED
JAN 2 0 1953
I MA -RC ESOLUTION NUMBER
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN�,,7EX
SAI
ESTABLISHING A DEFERREDCOMPENSATION PLAN FOR EMPLOYEES •
ADOPTING AND EXECUTING y TRUST AGREEMENTI AND
APPOINTING
e s*.
MANAGER AS COORDINATOR FOR THIS PROGRAM.
WHEREAS#the City Council of the City of Georgetown, Texas -h-
"City") has employees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such
itmployees will serve the interests of the City by enabling it to provide
reasonable retirement security for its employees, by providing increased
flexibility in its personnel management- • ' it and byassisting ..
attraction and retention of competent personnel; and
WHEREAS, the City has determined that the establishment of a
deferred compensation plan to be administered by the ICMA Retirement
Corporation (the "Corporation") will serve the above objectives; and
WHEREAS, the City desires that the investment of funds held under
its deferred compensation plan be administered by the Corporation, as
Trustee, with the understanding that such funds will be held by the ICMA
Retirement Trust, . a trust established by public employers for the
purpose # representing interests • such employers with .• ! _ is
the collective investment of funds held under their deferred
compensation •
1. The City Council of - City of Georgetown,Texas
adopts the deferred compensation plan, attached hereto as Appendix "A",
and appoints the ICMA Retirement. Corporation (the "Corporation") to
serve as Administrator ! ! and
2* The City hereby executes the ICMA Retirementattached
hereto as Appendix
3. The City hereby adopts the t rust agreement, attached hereto as
Appendix "C", and appoints the Corporation as Trustee thereunder, and
directs the Corporation, as Trustee, to invest all funds held under the
deferred compensation plan througlx the ICMA Retirement Trust as soon as
is practicable; and
4. The City Manager shall be the coordinator for this program an
shall receive necessary reports noticest etc. from the Corporatio
::.• Administrator,• shall cast,•: behalf of the City, anj
required votes under the program. Administrative duties to carr
out theplan It::: be • 1.the appropriatedepartments.
deferred compensation plan resolution(csf 011288.res) page 1 of 2
Adopted
dopted this IZ& day of (BZW
1988.
I J XA�
o'l
Jim Cofbert, Mayor
I#Wk4
Le 'F. Willoughby, City cretAry
I M E ELI OUGHRY *, being the current City Secretary of the City of.
Georgetown do hereby certify the above is a true and correct copy of a
resolution of the City Council of the City of Georgetown and such
resolution was duly adopted at a meeting open to the public and noti6e
of said meeting, giving the date, place, and subject thereof, was' posted
as prescribed by Article 6252-17) Section 3A, VATCS.
Dated this day of" i ri-
19
(City Seal)
-7
'ity Secretary FiRECaVVED
JAN 2 0 198g
deferred compensation plan resolution(csf 11 .res) page 2 of 2