HomeMy WebLinkAbout1999-08-30-Resolutions 99-101_ICMA Retirement Deferred Compensation PlanRESOLUTION NO.99-101
FOR A LEGISLATIVE BODY RELATING TO A
DEFERRED COMPENSATION PLAN
Name of Employer:City of Waukee State:Iowa
Title of Program Coordinator:City Treasurer of the City of Waukee
(see definition below for duties of Program Coordination)
Resolution of the above named Employer ("Employer")
WHEREAS,the Employer has employees rendering valuable services;and
WHEREAS,the establishment of a deferred compensation plan for such employees
serves the interests ofthe 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 desires that its deferred compensation plan be administered by
the ICMA Retirement Corporation,and that some or all of 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;
NOW THEREFORE BE IT RESOLVED that the Employer hereby adopts the deferred
compensation plan (the "Plan)in the fOlIDof:(Select one)
D The ICMA Retirement Corporation Deferred Compensation Plan and
Trust,referred to as Appendix A
BE IT FURTHER RESOLVED that the Employer hereby executes the Declaration of
Trust of the ICMA Retirement Trust,attached hereto as Appendix B,intending this
execution to be operative with respect to any retirement or deferred compensation plan
subsequently established by the Employer,if the assets of the plan are to be invested in
the ICMA Retirement Trust.
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust,with the
Employer serving as trustee,for the exclusive benefit of the Plan participants and their
beneficiaries,and the assets shall not be diverted to any other purpose.
BE IT FURTHER RESOLVED that the Plan:
D Will not permit loans
BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as trustee under
the Plan.)BE IT FURTHER RESOLVED that the City Treasurer ofthe City of Waukee (use title of
official,not name)shall be the coordinator for this program;shall receive necessary
reports,notices,etc.from the lCMA Retirement Corporation or the lCMA Retirement
Trust;shall cast,on behalf of the Employer,any required votes under the lCMA
Retirement Trust;Administrative duties to carry out the plan may be assigned to the
appropriate departments,and is authorized to execute all necessary to execute all
necessary agreements with lCMA Retirement Corporation incidental to the
administration of the Plan.
I,Mark J.Arentsen,City Administrator/Clerk of the City of Waukee,Dallas County,
Iowa,do hereby certify that the foregoing resolution,proposed by Nick Gruber,(Council
Member)of Waukee,was duly passed and adopted in the (Council)of the City of
Waukee,Dallas County,Iowa at regular meeting thereof assembled this 30th day of
August,1999,by the following vote:
Ayes:Gruber,Lyon,Heath,Berger,Peard
Nays:None.
Absent:None.
Attest:
Mark J.Aren en,Administrator/Clerk-
I