Resolution 2339 - Laserfiche WebLink

SAMPLE RESOLUTION FOR PARTICIPATING EMPLOYERS RESOLUTION NO. 3s� RESOLUTION OF City of Everett, Washington ("Employer"). WHEREAS, the Employer maintains a deferred compensation plan for its employees which is administered by the ICMA Retirement Corporation (the "Administrator"); and WHEREAS, the Administrator has recommended changes in the plan document to comply with recent federal legislation and Internal Revenue Service Regulations governing said plans; and WHEREAS, the Internal Revenue Service has issued a private letter ruling approving said plan document as complying with Section 457 of the Internal Revenue Code; and WHEREAS,other public employers have joined together to establish the ICMA Retirement Trust for the purpose of representing the interests of the participating employers with respect to the collective investment of funds held under their deferred compensation plans; and WHEREAS, said Trust is a salutary development which further advances the quality of administration for plans administered by the ICMA Retirement Corporation: NOW THEREFORE BE IT RESOLVED that the Employer hereby adopts the deferred compensation plan, attached hereto as Appendix A, as an amendment and restatement of its present deferred compensation plan administered by the ICMA Retirement Corporation, which shall continue to act as Administrator of said plan; and BE IT FURTHER RESOLVED that the Employer hereby executes the ICMA Retirement Trust,attached hereto as Appendix B; and BE IT FURTHER RESOLVED that the Employer hereby adopts the trust agreement with the ICMA Retirement Corporation,as appears at Appendix C hereto,as an amendment and restatement of its existing trust agreement with the ICMA Retirement Corporation, and directs the ICMA Retirement Corporation, as Trustee, to invest all funds held under the deferred compensation plan through the ICMA Retirement Trust as soon as is practicable; and BE IT FURTHER RESOLVED that the g,Sk- ,aAA4g1•64 (use title of official, not name) shall be the coordinator for this program and shall receive necessary reports, notices, etc. from the ICMA Retirement Corporation as Administrator,and shall cast,on behalf of the Employer,any required votes under the program. Administrative duties to carry out the plan may be assigned to the aporoate departments. OP \ Council Preside- Cou'ci man Introducing Re - ion I, /LF?inr /)'70SG!-1 i Lam/ , Clerk of the (City, Coq-etc-) of r V77 do hereby certify that the foregoing resolution, proposed by (Council Member, TJ--wetee-etc.) M I C(-t 0L-. SOr) was duly passed and adopted in the (Council, Bad__.Ttc.) of the (City, C ,at ) of i% u at a regular methereof assembled this day of 111 19etinby the following vote: AYES: /'- L L NAYS: /NI O L ABSENT: /\i 0/1/E_ • (SEAL) �P� 44Ir ' Clerk of the(City,County,etc.)