2003/03/25 City Council Resolution (7)RESOLUTION NO. 2003 -53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
ESTABLISHING A 401(a) MONEY PURCHASE PLAN
FOR THE CLASSIFICATION CITY MANAGER
WHEREAS, Joseph D. Netter resigned his employment as City Manager of the City of
Rohnert Park effective April 15, 2003; and
WHEREAS, Mr. Netter is on administrative leave through and including April 15, 2003;
and
WHEREAS, Mr. Netter has requested that the City Council establish a Internal Revenue
Code Section 401(a) Money Purchase Plan for the classification of City Manager; and
WHEREAS, the establishment of a 401(a) Money Purchase Plan will benefit Mr. Netter
and any other employee in the classification City Manager who chooses to participate in
the Plan by providing funds for retirement; and
WHEREAS, the City Council is establishing this 401(a) Money Purchase Plan based
upon its understanding that the City of Rohnert Park will not incur any costs whatsoever
to establish, administer, and maintain the Plan
WHEREAS, the City Council desires that the 401(a) Money Purchase Plan be
administered by the International City Managers Association (ICMA).
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Rohnert
Park as follows:
Section One. The City of Rohnert Park hereby establishes a 401(a) Money Purchase Plan
( "Plan ") for the classification City Manager to be administered by ICMA.
Section Two. The Plan is established in the form of the ICMA retirement corporation
Governmental Money Purchase and Trust pursuant to the specific provisions of the
Adoption Agreement attached to this resolution; and the Plan and Trust document
attached to this resolution.
Resolution No. 2003 -53
(Page 2 of 2)
Section Three. The City of Rohnert Park hereby agrees to serve as trustee under the Plan
and to invest funds held under the Plan in the ICMA Retirement Trust; and
Section Four. The Finance Director shall be the coordinator for the Plan; shall receive
all reports, notices, etc. from the ICMA Retirement Corporation or the ICMA Retirement
Trust; shall cast, on behalf of the City of Rohnert Park, any required votes under the
ICMA Retirement Trust; and is authorized to execute all necessary agreement with the
ICMA Retirement Corporation incidental to the administration of the Plan.
Section Five. The Mayor is authorized to execute all documents necessary to establish
the Plan authorized by this resolution.
DULY AND REGULARLY ADOPTED by the City Council of the City of Rohnert Park
this 25th day of March, 2003.
ATTEST:
6 - p* �
CITY OF ROHNERT PARK
Mayor
FLORES: AYE MACKENZIE: AYE NORDIN: AYE SPRADLIN: AYE VIDAK- MARTINEZ: AYE
AYES: (5) NOES: (0) ABSENT: (0) ABSTAIN: (0)