HomeMy Public PortalAboutResolution 81-1970RESOLUTION NO. 81 -1970
A RESOLUTION OF THE CITY OF TEMPLE CITY
ADOPTING AN EMPLOYEES' DEFERRED COMPEN-
SATION PLAN AND AUTHORIZING THE EXECUTION
OF AGREEMENTS RELATING TO SAID PLAN
THE CITY COUNCIL OF THE CITY OF TEMPLE CITY DOES RESOLVE AS
FOLLOWS:
WHEREAS, the City of Temple City has in its employ employees who
are and will be rendering valuable services to the City; and
WHEREAS, said employees may desire to defer income until retire-
ment for the purpose of deferring Federal and State Income Taxes on
said income; and
WHEREAS, the City of Temple City has considered the establishment
of a Deferred Compensation Plan for said employees, in accordance with
Federal and State law and regulations, and believes that the adoption
of said Plan will enhance the efficiency and morale of the employees
and will be in the best interests of the City;
NOW, THEREFORE, BE IT RESOLVED that the City of Temple City hereby
establishes for its employees a Deferred Compensation Plan, to be effec-
tive April 1, 1981, and to remain in effect until terminated by further
resolution.
BE IT FURTHER RESOLVED THAT the City Treasurer is hereby appointed
to administer the Plan on behalf of the City and is authorized to execute
Participation Agreements with eligible officers, officials and employees,
and all other Documents and Agreements necessary to implement and adminis-
ter the Plana
The City Clerk shall certify to the adoption of this Resolution this
I 17th day of March, 1981.
ADOPTED, SIGNED and APPROVED this 17th day of March, 1981.
ATTEST:
Chief' Deputy City Clerk
I hereby certify that the foregoing Resolution was duly adopted by
the City Council of the City of Temple City at a regular meeting held
on the 17th day of March, 1981, by the following vote:
AYES: Councilmen - Dennis, Gillanders, Merritt, Tyrell, Atkins
NOES: Councilmen -None
ABSENT: Councilmen -None
Ch 'e Deputy City Clerk