HomeMy WebLinkAboutReso 167-05 ICMA 401a Program
RESOLUTION NO. 167 - 05
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
. * . * . * * * *
ADOPTING ADM1NISTRATIVE SERVICE AGREEMENTS TO
ESTABLISH A NEW DEFERRED COMPENSATION PROGRAM: A 401(a)
GOVERNMENTAL MONEY PURCHASE PLAN
WHEREAS, on June 21,2005, the City Council adopted Resolution No. 116-05, which amended
the City's Benefit Plan; and
WHEREAS, included in the amendment provisions to the benefit plan was a provision to allow
employees to participate, on a voluntary basis, in additional deferred compensation programs administered
by the International City Management Association (ICMA) and
WHEREAS, these programs would not require any additional contributions by the City on behalf
of employees; and
WHEREAS, ICMA has worked with the Internal Revenue Service (IRS) to establish new deferred
compensation programs, one of which being the 401(a) Governmental Money Purchase Plan, which will
allow employees to defer additional funds towards retirement on a tax deferred basis; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby adopt the following:
The lCMA Retirement Corporation's 40I(a) Governmental Money Purchase Plan.
PASSED, APPROVED AND ADOPTED this 16th day of August, 2005.
AYES: Council members Hildenbrand, McCormick, Oravetz and Zika, and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None
ATI¿;:
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City Clerk
a,ICC.MTOS\200'-qtr3lAuglOg.16-'J'''''''' 167~" 41110 pt..n.DOC (Item 4.3)