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• CITY OF LAKE ILLE
V
RESOLUTION
Date October 17, 1988 Resolution No. 88-139
Motion by Harvey Seconded by Nelson
RESOLUTION RELATING TO A DEFERRED
COMPENSATION PLAN
WHEREAS, the Employer has employees rendering valuable services;
and
WHEREAS, the establishment of a deferred compensation plan for such
employees serves the interests of the Employer by enabling it to provide
reasonable retirement security for its employees, by providing increased
flexibility in its personnel management system, and by assisting in the
attraction and retention of competent personnel; and
WHEREAS, the Employer has determined that the establishment of a
deferred compensation plan to be administered by the ICMA Retirement
Corporation serves the above objectives; and
WHEREAS, the Employer desires that the investment of funds held
under its deferred compensation plan be administered by the ICMA
Retirement Corporation, and that such funds be held by the ICMA Retire-
went Trust, a trust established by public employers for the collective
investment of funds held under their deferred compensation plan and
money purchase retirement plans.
NOW, THEREFORE, BE IT RESOLVED that the Employer hereby executes
the Declaration of Trust of the ICMA Retirement Trust, attached hereto
as Appendix B.
A
( ,
BE IT FURTHER RESOLVED that the Finance Director shall be the
coordinator for this program and shall receive necessary reports,
notices, etc. from the ICMA Retirement Corporation or the ICMA Retire-
went Trust, and shall cast, on behalf of the Employer, any required
votes under the program. Administrative duties to carry out the plan
may be assigned to the appropriate departments.
APPROVED AND ADOPTED by the City Council of the City of Lakeville,
this 17th day of October, 1988.
CITY OF LAKEVILLE
BY:
Dua e Zaun, Mayo
ATTES f
' atrick E. Mc arvey, ity Clerk
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