HomeMy Public PortalAboutResolution 97-36371
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RESOLUTION NO. 97 -3637
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMPLE
CITY APPROVING ADOPTION OF THE CALIFORNIA PUBLIC
EMPLOYEES' DEFERRED COMPENSATION PLAN
WHEREAS, the City of Temple City 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 of Temple City believes that the PERS Plan and the investment options
available thereunder will provide valuable benefits to its 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 Council of the City of Temple City
resolves that:
SECTION 1. The City of Temple City adopt the PERS Plan for the benefit of its employees and
authorize and direct the Mayor to execute the attached adoption agreement on behalf of the City of
Temple City.
SECTION 2. The City of Temple City will provide State Street with the specific terms and
conditions of the City's participation in the PERS Plan.
SECTION 3. The City of Temple City will provide State Street with such information and
cooperation as may be needed on an ongoing basis in the administration of the PERS Plan.
SECTION 4. The City Clerk is directed to forward a certified copy of this resolution, an executed
Agreement, and a Specifications Data Sheet to PERS and to State Street Bank &
Trust Company.
SECTION 5. The City Clerk shall certify to the passage and adoption of this resolution.
PASSED, APPROVED, AND ADOPTED on this 7th day of October, 1997.
A'l'JEST:
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City Clerk
Resolution No. 97 -3637
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I, City Clerk of the City of Temple City, hereby certify that the foregoing resolution, Resolution
No. 97 -3637, was adopted by the City Council of the City of Temple City at a regular meeting held on the
7th day of October 1997, by the following vote:
AYES: Councilman- Breazeal, Brook, Wilson, Gillanders, Souder
NOES: Councilman -None
ABSENT: Councilman -None
(City'Clerk
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