HomeMy Public PortalAboutResolution 00-38261
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RESOLUTION NO. 00 -3826
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMPLE
CITY ADOPTING AMENDMENTS AND RESTATEMENT OF THE
PUBLIC AGENCY RETIREMENT SYSTEM (PARS) SECTION 401(A)
TRUST AGREEMENT WITH CITY OF TEMPLE CITY
WHEREAS, the City of Temple City (CITY) is a member of the Public Agency Retirement System
(PARS) Trust; and
WHEREAS, the CITY is a member of PARS for the purpose of providing tax qualified retirement
benefits; and
WHEREAS, the CITY provides a Qualifying Retirement System for its employees, thereby
meeting the requirements of Section 11332 of the Omnibus Budget Reconciliation Act (OBRA 90) and
Section 3121(b)(7)(F) of the Internal Revenue Code (IRC); and
WHEREAS, PARS, a governmental trust, has been adopted by the CITY that qualifies under
California Government Code Sections 53,000 and 20,000, OBRA 90 Section 11332, IRC Sections
3121(b)(7)(F) and 401(a), and meets the meaning of the term "retirement system" as given by Section
218(b)(4) of the Federal Social Security Act;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Temple City
resolves that:
SECTION 1. The City Council hereby adopts the amended and restated PARS Trust Agreement,
effective May 2, 2000; and
SECTION 2. The City Council hereby appoints the Senior Management Assistant, or his/her
successor, or his/her designee as the City's Plan Administrator for the Public Agency Retirement System;
and
SECTION 3. The City's Plan Administrator is hereby authorized to execute the PARS legal
documents on behalf of the CITY and to take whatever additional actions are necessary to maintain the
CITY's participation in PARS and to maintain PARS compliance of any relevant regulation issued or as
may be issued; therefore authorizing him/her to take whatever additional actions are required to
administer the CITY's PARS plan(s).
PASSED, APPROVED, AND ADOPTED on this 2nd day of May, 2000.
ATTEST:
City Clerk
Resolution No. 00 -3826
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I, City Clerk of the City of Temple City, hereby certify that the foregoing resolution, Resolution
No. 00 -3826, was adopted by the City Council of the City of Temple City at a regular meeting held on the
2nd day of May 2000, by the following vote:
AYES: Councilman - Breazeal, Brook, Gillanders, Wilson, Souder
NOES: Councilman -None
ABSENT: Councilman-None
htla 6R
City Clerk
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