HomeMy WebLinkAboutR-2119 - Amending the City of Marysville ICMA-RC Deferred Compensation Plan-------------------------
RESOLUTION 21.lL-
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 flexibility in its personnel management
system,and by assisting in the attraction and retention of competent personnel:and
WHEREAS,the Employer has determined rhat the continuance of the deferred compensation plan will serve these objectives;and
WHEREAS,amendments co rhe Internal Revenue Code have been enacted that require changes to the structure of and 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 (Select one)
5ll The ICMA Retirement Corporation Deferred Compensation Plan and Trust
o The Plan and Trust provided by the Employer (executed copy attached hereto)
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 benefir of Plan participants and their beneficiaries,and the assetsshall not be diverted to any other purpose.Indicia of the
Trustee's beneficial ownership of Plan assets held in VantageTrust furrher shall be held for rhe exclusive benefit of rhe Plan participants and
their beneficiaries;
BEIT FURTHER RESOLVED thatthe Employer hereby agrees to serveasTrusteeunderthePlan.
IN WITNESS WHEREOF,the Employer has executed thisPlan Amendment this
!~fh day of ."knl,,((b Cl .2 00 Lf.-.
Its
By:::--_
City of Marysville
By~;(M;
Mayor
AnEST/AUTHENTICATED:
~~
APPROVED AS TO FORM:
Marysville City Attorney