HomeMy WebLinkAboutResolution 2575 Establishing ICMA Employees Retirement: 9-23-85
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COMMISSION RESOLUTION NO. 2575
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, (EMPLOYER) ESTABLISHING A DEFERRED COMPENSATION
PLAN FOR ITS EMPLOYEES.
WHEREAS, the Employer has employees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such employees
will serve 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 I CMA Retirement Corporation will serve the
above objectives, and
WHEREAS, the Employer desires that the investment of funds held under its deferred
compensation plan be administered by the I CMA Retirement Corporation, as Trustee, with
the understanding that such funds will be held by the I CMA Retirement Trust, a trust
established by public employers for the purpose of representing the interests of such
employers with respect to the collective investment of funds held under their deferred
compensation plans:
NOW, THEREFORE, BE IT RESOLVED that the Employer adopts the deferred
compensation plan, attached hereto as Appendix A, and appoints the ICMA Retirement
Corporation to serve as Administrator thereunder; and
BE IT FURTHER RESOLVED that the Employer hereby executes the ICMA Retirement
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Trust, attached hereto as Appendix B; and
BE IT FURTHER RESOLVED that the Employer hereby adopts the trust agreement,
attached hereto as Appendix C, and appoints the ICMA Retirement Corporation as Trustee
thereunder, and directs the ICMA Retirement Corporation, as Trustee, to invest all funds
held under the deferred compensation plan through the I CMA Retirement Trust as soon as
is practicable; and
BE IT FURTHER RESOLVED that the City of Bozeman shall be the coordinator for
this program and shall receive necessary reports, notices, etc. from the ICMA Retirement
Corporation as Administrator, 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.
ADOPTED by the Commission of the City of Bozeman, Montana, at a regular and
stated session of said Commission held on the 23rd
day of
September
1985.
ATTEST:
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Clerk of the City Commission
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City Arney
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I, Robin L. Sullivan, Clerk of the City Commission of the City of Bozeman,
Montana, do hereby certify that the foregoing resolution was duly passed and adopted by
the City Commission of Bozeman, Montana, at a regular meeting thereof held on the 23rd
day of September 1985, by the following vote:
AYES: 5
NAYS: 0
ABSENT: 0
(SEAL)
R~ s~vV~
Clerk of the City Commission
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