HomeMy Public PortalAbout95-140 (09-19-95)RESOLUTION NO.95 -140
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING ADOPTION OF CALIFORNIA PUBLIC EMPLOYEES'
DEFERRED COMPENSATION PLAN
' WHEREAS, the City of Lynwood desires to establish an
additional deferred compensation plan for the benefit of its
employees; and
WHEREAS, the Board of Administration (the "Board ") of the
California Public Employees' Retirement System ( "PERS ") has
established the California Public Employees' Deferred Compensation
Plan (the "PERS Plan ") which may be adopted by a governmental
employer the employees of which are members of PERS; and
WHEREAS, the City believes that the PERS Plan and the
investment options available thereunder will provide valuable
benefits to the City's employees; and
WHEREAS, the Board has appointed State Street Bank and
Trust Company and State Street Bank and Trust Company of
California, N.A (collectively, "State Street ") to perform
administrative services under the PERS Plan and to act as the
Board's agent in all matters relating to the administration of the
PERS Plan;
NOW, THEREFORE, BE IT RESOLVED that the City of Lynwood
adopts the PERS Plan for the benefit of its employees and
' authorizes and directs the Mayor to execute the attached adoption
agreement on behalf of the City, to provide State Street with the
specific terms and conditions of the City's participation in the
PERS Plan, and to provide State Street with such information and
cooperation as may be needed on an ongoing basis in the
administration of the PERS Plan.
1995. PASSED, APPROVED and ADOPTED this 19th day of S eptember ,
LOUIS BYRD, Ma or
City of Lynwood
ATTEST:
ANDREA L. HOOPEER�
City Clerk
APPROVED AS TO FORM:
City Attorney
APPROVED AS TO CONTENT:
j Fauin aft s anager
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
ss.
I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the foregoing resolution was passed and
adopted by the City Council of the City of Lynwood at a regular
meeting held on the 19th day of September ,1995.
And passed by the following vote:
AYES:000NCIL MEMBER HENNING, REA, RICHARD, BYRD
NOES:NONE
ABSENT: NONE
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
City Clerk, City of L nwood
ss.
I, the undersigned, City Clerk of the City of Lynwood,
and Clerk of the City Council of said City hereby certify that the
above and foregoing is a full, true and correct copy of resolution
no. 95-14 on file in my office and that said resolution was
adopted on the date and by the votes there in stated. Dated
this 19th day of September ,1995.
City Clerk, City of L nwood