HomeMy WebLinkAboutResolution - 1076 7
1 RESOLUTION NO. 1076
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SAN JACINTO, A CALIFORNIA MUNICIPALITY,
3 ESTABLISHING A DEFERRED COMPENSATION PLAN.
4 WHEREAS , the City of San Jacinto has in its employ certain personnel ; and
5 WHEREAS, said employees are and will be rendering valuable services to
6 the City; and
7 WHEREAS, the City has considered the establishment of a Deferred Compen-
8 sation Plan for the said employees made available to the City and to said em-
9 ployees by the International City Management Association Retirement Corporation;
10 and
11 WHEREAS, said employees often are unable to acquire retirement security
12 under other existing and available retirement plans due to the contingencies of
13 employment mobility; and
14 WHEREAS, the City receives benefits under said plans by being able to as-
15 sure reasonable retirement security to said employees by being able to attract
16 competent personnel to its service, and by increasing its flexibility in person-
17 nel management through elimination of the need for continued employment for the
18 sole purpose of allowing an employee to qualify for retirement benefits.
19 NOW, THEREFORE, BE IT RESOLVED that the City of San Jacinto establish
20 said Deferred Compensation Plan for said employees and hereby authorizes its
- 21 Mayor to execute the Deferred Compensation Plan with the International City
22 Management Association Retirement Corporation, attached hereto as Appendix A; an
23 IT IS FURTHER RESOLVED that the City Manager may, on behalf of the City
24 execute all Joinder Agreements with said employees and other eligible officials
25 and officers, which are necessary for said persons participation in the plan,
26 an example of which appears at Appendix B, except that any Joinder Agreement for
27 said designated official shall be executed by the Mayor.
28 MOVED, PASSED AND ADOPTED the 25th of November 1975.
29 ATTEST:
LUCY , AY ALLEN, CITY CLERK
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32 I , Lucy May Allen , Clerk of the City of San Jacinto, do hereby certify
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1 that the foregoing resolution, proposed by Councilwoman Hazeltine and seconded
2 by Councilman Stevens was duly passed and adopted by the City Council of the
3 City of San Jacinto at a regular adjourned meeting thereof assembled this 25th
4 day of November, 1975 by the following vote:
5 AYES: Councilwoman Hazeltine, Councilmen Stevens, Brooks, Wilson and
Wallace.
6
NOES: None
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ABSENT: None
8
LUCY MAY. ALLEN, CITY CLERK
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City of TaK Jacinto
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