1990/07/24 City Council Resolution (7)RESOLUTION NO. 90-158
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF A0HNERT PARK
APPROVING A MONEY PURCHASE RETIREMENT PLAN ADMINISTERED BY ICMA
RETIREMENT CORPORATION AND AUTHORIZING EXECUTION OF AN ADOPTION AGREEMENT
WHEREAS, the City of Rohnert Pork has employees rendering valuable
services; and
WHEREAS, the City has established a Money Purchase Retirement Plan and
approved an agreement with ICMA Retirement Corporation by Resolution No. 86-210
adopted December 9, 1986; and
WHEREAS, the City has amended said Money Purchase Retirement Plan with the
inclusion of o Declaration of Trust approved by Resolution No. 89-I0I adopted on
July ll, 1989; and
WHEREAS, the City desires to amend the ICMA Money Purchase Retirement Plan
to include the employees' matching share contribution; and
WHEREAS, by allowing for the employees' matching share contributions to be
deposited into the Internal Revenue Service approved 401(o) Deferred
Compensation Plan, additional amounts may be deferred into the Internal Revenue
Service approved 457 Plan administered by Great Western Savings Bank'
N0N` THEREFORE, BE IT RESOLVED by the Council of the City of Rohnert Park
that it does hereby approve an amendment to the existing ICMA Retirement
Corporation Money Purchase Retirement Plan by the execution of a revised
Prototype Money Purchase Plan and Trust Adoption Agreement.
BE IT FURTHER RESOLVED that the Mayor is authorized and directed to execute
said Prototype Money Purchase Plan and Trust Adoption Agreement for and on
behalf of the City of Rohnert Pork.
DULY AND REGULARLY ADOPTED this 24th day of July` 1990.
� CITY OF ROHNERT PARK
CITY
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