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HomeMy WebLinkAbout5729 RESOLUTION NO. 5729 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, ADOPTING ICMA RETIREMENT CORPORATION SECOND DEFERRED COMPENSATION PLAN THAT THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBYf FIND, DETERMINE AND RESOLVE AS FOLLOWS: SECTION 1. That the City Council establish a Second Deferred compensation Plan for said employees of the City of Arcadia and that said Deferred Compensation Plan remain in effect until terminated by further resolution of the City Council. SECTION 2. That the Second Deferred Compensation Plan be administered by the ICMA Retirement Corporationf and that the funds held under such plan be invested in the ICMA Retirement Trust, a trust established by public employers for the collective investment of funds held under their Retirement and Deferred Compensation Plans. SECTION 3. That the City of Arcadia hereby adopt the Declaration of Trust of the ICMA Retirement Trustf intending this to be operative with respect to any retirement or Deferred Compensation Plan established by the City if the assets of the Plan are to be invested in the ICMA Retirement Trust. SECTION 4. That the Director of Finance, as Plan Administrator, may, on behalf of the city execute all Participation Agreements with said City employees and other eligible officials and officersf which are necessary for said persons participating in the Plan, 1 SECTION 5. That the City Clerk shall certify to the adoption of this Resolution. passed, approved ATTEST: Arcadia cit STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF ARCADIA SS: If JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby certify that the foregoing Resolution No. 5729 was passed and adopted by the city Council of the city of Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said city Council held on the lst day of June, 1993 and that said Resolution was adopted by the following vote, to wit: AYES: Councilmember Faschingf Harbichtf Lojeski, Margett and Ciraulo NOES: None ABSENT: None ,0) 2 5729