HomeMy WebLinkAboutResolution 4554 Amending the ICMA-RC 457 Deferred Compensation Program sox ,
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COMMISSION RESOLUTION NO. 4554
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, AMENDING THE ICMA-RC 457 DEFERRED COMPENSATION
PROGRAM TO PERMIT LOANS TO PARTICIPANTS.
WHEREAS, the City has sponsored a deferred compensation retirement plan ("the
Plan") in compliance with Internal Revenue Code section 457(b), through the International City
Manager's Association (Plan No. ICMA-RC 457 #300556); and
WHEREAS, the City has employees rendering valuable services to the community;
and
WHEREAS, the Plan has been established for such employees, which serves the
interest of the City 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 City has determined that permitting participants in the Plan to take
loans from the Plan, in compliance with Plan rules, will serve these objectives; and
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana: The Plan will permit loans.
PASSED AND APPROVED by the City Commission of the City of Bozeman,
Montana, at a regular session thereof held on the 15°i day of September, 2014.
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Resolution 4554 - Amending ICMA-RC 457 Plan
„ JVfWV K. KRAUSS
ATTEST: p� Q Z �
/ayor
'T' C
STACY
City Cl rk
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APPROVED AS TO FORM:
GREG SU LIVAN
City Attorney
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