HomeMy WebLinkAbout1997-R-24 THE UNITED STATES CONFERENCE OF MAYORS (USCM)
DEFERRED COMPENSATION PROGRAM
SAMPLE RESOLUTION OF THE COUNCIL OF THE CITY OF 3effersonville
In the Matter of: ESTABLISHING A DEFERRED COMPENSATION
PLAN FOR THE CITY OF: 3effersonville
I, C. Richard Spencer
Indiana
Councilmember
Jeffersonville
April , 19 97
AYES: COUNCILMEMBERS: Perkins, Ellis, Frantz, Wilson, Williams, and,
NOES: None
ABSENT: Couneilperson Wilder
, City Clerk of the City of 3effersonville , State of
, do hereby certify that the following resolution, proposed by
, seconded by Councilmember
, was duly passed and adopted by the Council of the City of
, at a regular meeting thereof assembled this 7 day of
__, by the following vote, ~o witl
Conlin
CLERK
CITY OF 3effersonville ~i .
WHEREAS, the City has considered the establishment of a Deferred Compensation Plan to be made
available to all eligible city employees, elected~icials, and independent contractors pursuant to Federal
legislation permitting such Plans; and
WHEREAS~ certain substantial tax benefits could accrue to employees, elected officials, .and independent
contractors participating in said Deferred Compensation Plans; and
WHEREAS, such benefits win act as incentives to City employees to voluntarily set aside and invest
portions of the current income to meet their future financial requirements and supplement their City retirement
and Social Security {if appliable), at no cos~o the City; and
WHEREAS, The U.S. Confe~'ence of MaYors has established a master prototype deferred compensation
program for cities and political subdivisions permitting its member cities and their employees to enjoy the
advantages of this program;
WHEREAS, The U.S. Conference of Mayors, as Plan Administrator, agrees to hold harmless and indemnify
the City, its appointed and elected officers and participating employees f~0m any loss resulting from The U.S.
Conference of Mayors or its Agent's failure to perform its duties and services pursuant to The U.S. Conference
of Mayors Program;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF~ Jeffersonville
DOES HEREBY RESOLVE AS FOLLOWS:
The City Council hereby adopts the U.S. Conference of Mayors Deferred Compensation Program and its
attendant investment options and hereby establishes the City of 3effersonville
Deferred Compensation Plan for the voluntary participation of all eligible city employees, elected officials
and independent contractors.
The Deputy Mayor is hereby authorized to execute for the City, individual
participation agreements with each said employee requesting same, and to act as the "Administrator" of the
Plan representing the City, and to execute such agreements and contracts as are necessary to implement the
Program. It is implicitly understood that other than the incidental expenses of collecting and disbursing the
employee's deferrals and other minor adminstrative matters, that there is to be no cost to the City for the
Program.
YOR ' I (,/ CITY
ATTEST: CITY COORDINATOR, CITY OF Jeffersonville
*This resolution contains the necessary technical language as to content and substance. If any change in
form is necessary in order to comply with applicable city requirements, please make such changes.
DC-390-A (12-89) White--Service Center, Canary--Entity, Pink--PEBSCO Field Representative