HomeMy WebLinkAbout2022-05-02 Resolution 2022-185_Money Purchase Plan RestatementTHE CITY OF WAUKEE, IOWA
RESOLUTION 2022-185
APPROVING RESTATEMENET OF CITY OF WAUKEE MONEY PURCHASE PLAN
IN THE NAME AND BY THE A UTHORITY OF THE CITY OF WA UKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, on June 19, 2017, the Waukee City Council approved a Waukee Money Purchase Plan
(Resolution #17-285); AND,
WHEREAS, on October 2, 2017, the Waukee City Council approved an amended and substituted
resolution (Resolution #17-464) approving Waukee Money Purchase Plan AND,
WHEREAS, the IRS requires that a new adoption agreement to amend and restate the money purchase
plan is executed every six years; AND,
WHEREAS, the City of Waukee, commencing July 1, 2022, for a period of five years, shall annually
contribute, on a prorated bases over the number of pay periods in a given fiscal year, to the 401A
account an amount to eligible employees, as laid out in the adoption agreement amendment and
restatement document; AND,
WHEREAS, contributions shall only accrue through the last day of employment of any eligible
employee but in no event beyond June 30, 2027.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session this 2nd day
of May 2022 that the amendment and restatement to the money purchase plan is hereby approved.
BE IT FURTHER RESOLVED that the City of Waukee hereby authorizes the City Administrator to
execute agreement with the ICMA Retirement Corporation doing busi s as MissionSquare
Retirement incidental to the administration of the Plan.
R. les Bottenberg, Mayor Pro Tern
Attest:
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Rebecca D. Schuett, City Clerk
RESULTS OF VOTE:
AYE
Anna Bergman Pierce
X
R. Charles Bottenberg
X
Chris Crone
X
Larry R. Lyon
X
Ben Sinclair
X
NAY ABSENT ABSTAIN