HomeMy Public PortalAbout1981_07_22_O017TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
ORDINANCE NO. 81-0-17
PRESENTED July 22, 1981
ADOPTED July 22~ 1981
AN ORDINANCE:
AMENDING CHAPTER 12.1 OF THE TOWN CODE TO PROVIDE FOR THE
ESTABLISHMENT, SUPERVISION, ADMINISTRATION AND IMPLEMENTA-
TION OF A DEFERRED COMPENSATION PLAN FOR TOWN EMPLOYEES
ORDAINED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. Chapter 12.1, Personnel Manual, of the Town Code is amended
by adding thereto Sections 12.1-17.1 and 12.1-17.2 to read as follows:
Sec. 12.1-17.1. Establishment~ execution and amendment of deferred com-
pensation plan.
As provided in the Government Employees Deferred Compensation Act,
Section 51-111.67:14 et seq of the Code of Virginia (1950) as amended,
the town hereby adopts and establishes a plan of deferred compensation
for its employees. The purpose of the plan shall be to provide for the
deferral of compensation to the participants. The plan shall exist in
addition to all other retirement, pension or other benefits systems
available to the participants and shall not supersede, make inoperative
or reduce any benefits provided by any other retirement, pension or bene-
fits program established by law. The Town Manager shall execute and de-
liver the plan to the Plan Administrator. The plan shall contain such
terms and amendments as the Town Manager may from time to time approve,
such approval to be conclusively evidenced by his execution thereof.
Sec. 12.1-17.2. Deferred compensation committee to administer the plan.
The Leesburg deferred compensation committee is hereby established.
The committee shall consist of five members who shall, by the time of
their appointment and throughout their term, be career employees of the
town. Any vacancy shall be filled for the unexpired term in the same
manner as provided herein for original appointments. Members shall serve
for terms of four years with the first five members' terms ending on June
30, 1985 and ensuing terms ending every four years thereafter. The mana-
ger shall appoint five members by and with the consent of the Town Coun-
cil. The commission shall elect its chairman and secretary annually and
shall meet upon the call of the chairman or any two members.
The deferred compensation committee shall have the power to do all
things by way of supervision, administration and implementation of a
plan of deferred compensation, including but not limited to the power
to contract with private corporations or institutions for service in
connection therewith; provided, however, that nothing contained in this
section shall be construed to authorize the deferred compensation com-
mittee to act beyond the limits of the plan.
-2-
PASSEDthis 22nd
day of
July , 1981.
ATTEST:
Clerk of Co~c~l