HomeMy WebLinkAboutR-2076 - Amending ICMA-RC Deferred Compensation PlanRESOLUTION ;)01 fa
A resolution amending the City of Marysville ICMA-RC Deferred Compensation Plan.
Resolution of the above named Employer ("Employer")
WHEREAS,the Employer has employees rendering valuable services; and
WHEREAS, the Employer has established a deferred compensation plan for such employees that serves
the interest of the Employer by enabling it to provide reasonable retirement security for its employees, by
providing increased flexibilny in its personnel management system, and by assisting in the attraction and
retention of competent personnel; and
WHEREAS, the Employer has determined that the continuance of the deferred compensation plan will
service these objectives;and
WHEREAS,amendments to the Intemal Revenue Code have been enacted that require changes to the
structure of, and which allow enhancements of the benefits of the deferred compensation plan:
NOW THEREFORE BE IT RESOLVED that the Employer hereby amends and restates the deferred
compensation plan (the "Plan") in the form of:
The ICMA Retirement Corporation Deferred Compensation Plan and Trust
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the Employer serving
as trustee ("Trustee"), for the exclusive benefit of Plan participants and their beneficiaries,and the assets
shall not be diverted to any other purpose. The Trustee's beneficial ownership of Plan assets held in
Vantage Trust shall be held for the further exclusive benefit of the Plan participants and their
beneficiaries;
BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as Trustee under the Plan.
IN WITNESS WHEREOF,the Employer has executed this Plan Amendment this
/2H1 day of __--""-'''''"'''~==--,;;:>00,;).
Its
By:-::-_
City of Mal'tl~e I
By:Uw:d uJ41i1
Mayor
A TTEST/AUTHENTICATED:
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APPROVED AS TO FORM:
Marysville City Attorney
EGTRRA Amendment
Governmental 457 Plan
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