sr-101183-6cPE:SEM:p
Council Meeting: September 27, 1983
_._~
~~~~ ~-C
OCT i i 1983
Santa Monica, California
TO: Mayor and City Council
FROM: City Staff
SUBJECT; Resolution Amending the City's Deferred Compensation
Plan
Introduction
This report requests adoption of a Resolution amending the
City°s Deferred Compensation Plan to conform wit'_n Internal
Revenue Service (IRS) regulations.
Background
The IRS recently issued new regulations governing Deferred
Compensation Plans. The City's plan must now be amended to
incorporate the thrust of those regulations in order to preserve
the tax deferred status of funds in the plan. Of particular
note are the following:
- Expanded definition of includible compensation
- Expanded definition of normal retirement age
- Expanded Deferral of Compensation, Section SC, describing
the catch-up provision for individuals approaching
retirement
- Revised Distribution of Benefits, Section 10, to comply
with new regulations regarding commencement of
disbursements. In addition, Section lOD outlines changes
~-~'
OCT i 1 1983
in the allowable length of disbursements to
beneficiaries.
- Revised Mode of Distribution, Section 11, to include
description of minimum disbursement amounts.
- Revised Emergency Withdrawal, Section 12, to clarify
eligibility requirements.
- New Plan to Plan Transfer, Section 13, to establish
guidelines for transfers between plans.
An informational memo which details the changes in lay terms and
describes their effect on the plan, will be distributed to all
plan participants, A copy is attached for Council's information.
Financial Impact
Amendment of the plan does not involve expenditure of City funds
and serves to protect the integrity of the Deferred Compensation
Plan by bringing it into conformance with IRS regulations.
Recommendation
It is recommended that Council adopt the attached Resolution
amending the City of Santa Monica Deferred Compensation Plan to
conform with IRS regulations.
Prepared By: Susan E. McCarthy
CITY_OF SANTA MONYCA
DEFERRED COMPENSATION PLAN
TO: Deferred Compensation Plan Participants
FROM: Personnel Department
SUBJECT: Description of Plan Regulations
The City's Deferred Compensation Plan is a savings program
which offers some tax advantages. The extent of your
participation is a decision yon need to make based upon your
ability to defer income to some later date, .You should
remember that., unlike a regular savings account, these funds
cannot be withdrawn until you leave the City except in cases
of extreme emergency. S3owever, there are plan limitations
and requirements. Some of these limitations and requirements
are new and based on recently adopted.Inter_nal Revenue
Service regulations.
Enrollment
An employee may enroll in the plan by completing the
necessary forms available fram Personnel. A new employee may
enroll during the first thirty (30) days of employment or, as
any other employee, during a scheduled open enrollment
period.
The first deductions from pay will occur after the first of
the month following the month you enroll. The enrollment, or
Participation Agreement, will remain i.n effect until modified
or cancelled by a subsequent Agreement, according to the
procedures and regulations below.
Amounts of Deferral
The total amount of deferrals allowed under the IRS code may
not exceed $7500 per year. This includes any and all plans of
which you may be a participant. The actual provisions are
limited to the lesser of $7500' per year or 33 1/3& of
"includable income." This means you can have up to $288.45
per check deposited in the account, tax free, if that is not
more than one third of your gross income. Participation
reduces your taxable income and your tax liability for the
year. The. minimum amount of deferral>i.s $10 per pay period.
Includable income is that compensation which would be taxable
in any year as gross income. One-third of gross represents
approximately 25~ of take-home pay, but in any event you can
only deduct the. lesser of $7500 or one-third of gross income.
Personnel will assist you in calculating your limi-t, but we
cannot advise you on the financial benefits involved. Our
investment vehicle, Great Western Savings, will answer any'
questions you have.
There is a special provision for "catch-up" when you are
within three years of reaching normal retirement age, which
allows a higher contribution limit. The contribution limit is
based on the lesser of $15,000 or the annual $7500 limit and
the total of contributions not deferred in a prior year. For
example, if in 1982 you deferred only $1,200 when the ceiling
was $7,500, you could defer $7,500 and $6,300 in one or more
of your final three years. This applies only to the final
three years ending before normal retirement age.
You may also continue to participate after reaching normal
retirement age, but you must designate the. age at which
participation will end, and it can be no later than the date
of termination of employment.
Personnel or Great Western Savings can assist you in
determining your limits.
Changing the Terms of Your Agreement
Once you have selected an amount to be deducted, you may only
change that amount (add to it or reduce it) as specified
below.
You may, however, cancel your agreement is top deductions)
upon written notice of cancellation to the Personnel
Department. This would become effective after the first of
the month which is at least 30 days after notice is received
by Personnel,FOr example, if you want to cancel and notify
Personnel on June 15, the stop date becomes August 1.
Thereafter, you may not re-enroll until the next open
enrollment period.
Enrollment Periods
You can change the amounts of your deduction, or re-enrollo
1. Once each year for all employees, generally in
December.
2. Within thirty days after the effective date of any
MOU which provides a benefit for deferred compensation
or a change in the City's contribution amounts, if any.
3. Within .thirty (30) days of
unit that also changes the
compensation benefits.
Getting Your Money Out
a change in bargaining
amount of deferred
The plan is designed to give you a tax savings benefit. Under
the IRS Code which authorizes such plans, you cannot have
access to the money until certain conditions are met.
1. You leave the organization; or
2. You reach "normal retirement age"; or
3. You die before leaving the plan or retirement; or
4. In the event you terminate employment for
disability; or
5. In cases of "Extreme Financial Emergency°'.
Extreme Financial Emergency means that a sudden and
unexpected hardship arises, such as serious ilihess or loss
of property through casualty or disaster. The circumstances
which meet this criteria will be reviewed by Plan
representatives to determine eligibility. In no event can the
money be released if the hardship can be relieved byc
1. Insurance reimbursement; or
2. Liquidation of other assets not affected by the
hardship or disaster; or
3. Stopping your deferrals to the plan.
While your money is in the plan, you may not use your savings
as collateral in getting a loan. The IRS says this would be
the same as having the money.
You must meet one of the above requirements to get the money
and it becomes taxable upon receipt. So you should consider
the distribution method you choose which will provide a
reasonable method of getting the funds and not increasing tax
liability seriously.
Distribution Options
On your enrollment form, and again on the distribution form
you would complete when you leave the plan, you may select
from several options how to receive the money. The plan has
some basic requirements .you should know:
1. Distribution shall occur no later than 30 days after
the end of the calendar year in which a terminating
event occurs. If no election is made at least 30 days
prior to the effective date, the IRS .considers you to be
in full receipt of the taxable funds.
2. Xou may change the mode of distribution you have
selected at any dime up to 30 days before the effective
date,
3. If you leave before normal retirement age ibetween
age 63 and. 71) you may elect to leave the contributions
in the plan until you reach normal retirement age. This
is an irrevocable decision.
The allowable distribution modes are:
1. Lump sum
2. Sn consecutive periodic payments, monthly, quarterly,
semi-annually, or annually over a period of years not to
exceed the life expectancy of the participant or the
participant and his/her spouse.
Life expectancy is determined through actuarial tables
based upon the date distribution begins.
You may also arrange for a combination of the above modes 30
days before you elect to leave the plan. Pore information is
available from the Great Western Savings staff.
Plan to Plan Transfers
If you leave the City to work elsewhere, and the new employer
has a qualified plan, you may elect to transfer your
contributions. If so, there will be no payout of
contributions and the funds will be automatically
transferred. The only limits are that the plan is in the same
state (California) and that the new employer's plan allows
for acceptance of contributions from another plan.
CITY OF SANTA MONZCA DEFERRED COMPENSATION PLAN
1. NAME:
The name of the PLAN is CITY OF SANTA MONICA DEFERRED
COMPENSATION PLAN hereinafter referred to as the "PLAN'.
2. PURPOSE:
The primary purpose of the PLAN is to attract and hold
personnel by permitting them to enter into agreements
with the City of Santa Monica which will provide future
payments in lieu of deferred current income upon death,
disability, retirement, oz other termination of employment.
(The PLAN is intended to qualify as an eligible State
DEFERRED COMPENSATION PBAN within the meaning of Section 457
of the Internal Revenue Code of 1954, as amended, hereinafter
referred to as the "CODE`)
3. DEFINITIONS:
For the purposes. of this PLAN, certain words or phrases used
herein will have the following meanings:
A. "EMPLOYER' shall mean the City of Santa Monica.
B. 'PARTICIPANT'` shall mean an employee who has elected to
participate in the PLAN.. Only individuals who perform
service for the EMPLOYER may be PARTICIPANTS.
C. °PARTICIPATION AGREEMENT" shall mean the agreement
executed and filed by an employee with the EMPLOYER,
pursuant to SECTION 4, in which the employee elects to
become. a PARTICIPANT in the PLAN.. -
D. 'COMPENSATION shall- mean the salary or wages which
would be paid by the EMPLOYER to or for the benefit of
an employee, if he/she were not a PARTICIPANT in the
PLAN, for actual service performed.
E. °ZNCLUDED COMPENSATION' shall mean COMPENSATION received
from the EMPLOYER that is attributable to services
performed for the EMPLOYER and that is includible in the
PARTICIPANT'S gross income for the taxable year.
Accordingly, a PARTICIPANT'S INCLUDIBLE COMPENSATION for
a taxable year does not include any amount payable by the
EMPLOYER that is excludable from the PARTICIPANT'S gross
income under Section 457, Section 403(b), Section 105(d),
or Section 911 of the CODE. A PARTICIPANT'S INCLUDIBLE
COMPENSATION for a taxable year is determined without
regard to any community property laws.
F. 'DEFERRED COMPENSATION' shall mean the amount of
COMPENSATION which the PARTICIPANT and the EMPLOYER
mutually agree shall be deferred in accordance with the
provisions of this PLAN.
G. 'DISABILITY' means the inability of a PARTICIPANT to
engage in his/her usual occupation by reason of medically
determinable physical or mental impairment as determined
by the EMPLOYER on the basis of advice from a physician
or physicians.
H. 'NORMAL RETIREMENT AGE' shall mean the range of ages
ending no later than age 70 1/2 and beginning no earlier
than age 63. In the case of a PARTICIPANT who continues
to work beyond these ages, NORMAL RETIREMENT AGE shall be
that date or age designated by the PARTICIPANT, but such
date or age shall. not be later than the date or age at
which the PARTICIPANT separates from the service with the
EMPLOYER.
I. 'TERMINATION OF EMPLOYMENT'- shall mean the severance of
the PARTZCIPANT'3 employment with the EMPLOYER prior to
retirement.
4. PARTICIPATION:
A. Any eligible employee may elect to become a PARTICIPANT
of the PLAN and defer payment of part of his/her
COMPENSATION by executing and. delivering to the EMPLOYER
a written PARTICIPATION AGREEMENT.
B. COMPENSATION shall be deferred for any calendar month
only if a PARTICIPATION AGREEMENT providing for such
deferral has been entered into and is effective before the
beginning of such month. A PARTICIPATION AGREEMENT shall
remain in fnll force and effect from month to month unless
revoked or superseded by a new PARTICIPATION AGREEMENT.
C. The PARTICIPATION AGREEMENT shall state the amount of
COMPENSATION. to be deferred gursnant to the PLAN, which
shall not exceed the amounts provided in Section 5 below.
A PARTICIPANT must agree to defer an amount not less than
510.00 per payroll period for each investment.
D. Additional PARTICIPATION AGREEMENTS providing for deferral
of additional COMPENSA~TZON not yet earned may be executed
prior to the beginning of any month to become effective
during. such subsequent month. Prior PARTICIPATION
AGREEMENTS may not be revoked. or modified except as
elsewhere provided herein.
E. A PARTICIPANT may revoke• his/her PARTICIPATION AGREEMENT
by filing with the EMPLOYER an executed written notice of
revocation. In the event a revocation has been filed, no
farther COMPENSATION shall be deferred hereunder commencing
as of the beginning of the first month that commences at
least thirty (30) days after such notice is-delivered to
the EMPLOYER and continuing until the Emplo~.ee executes
and delivers a new PARTICIPATION AGREEMENT In accordance
with Section 4A. No amounts shall be payable to an
employee upon revocation of his/her PARTICIPATION AGREEMENT
unless otherwise due gursuant to Sectfon 10.
5. DEFERRAL OF COMPENSATION:
A.. For each month in which a. PARTICIPATION AGREEMENT of an
employee is in effect, the EMPLOYER shall not pay the
employee his/her full COMPENSATION but shall defer
payment of such part of his/her COMPENSATION as is
specified- by the employee in the PARTICIPATION
AGREEMENT..
B. Except as provided in. Section SC, the maximum amount
that may be deferred under the PLAN for aay taxable
year of a PARTICIPANT shall not exceed the lesser of:
1? 57,500, or
2) 33 1/38 of the PARTICIPANT'S INCLODIBLE
COMPENSATION for the taxable year, reduced
by any amount excludable from the PARTICIPANT'S
gross income for the taxable year under
Section 403(b) of the CODE. Similarly, if the
EMPLOYER contributes additional~~amounts into
the PLAN, the maximum amount that may be
deferred by the PARTICIPANT shall be reduced
- by the amount of the EMPLOYER'S contribution.
C. For any one or more of a PARTICIPANT'S last three (3)
taxable years eading before such PARTICIPANT attains
NORMAL RETIREMENT AGE, the maximum amount that may be
deferred under the PLAN for any taxable year of the
•PARTICIPANT shall not exceed the lesser of 515,000
or the sum of the maximum amount that could be deferred
for such taxable pear under Section SB above, without
regard to this Section, plus so much of the maximum
amountr that could be deferred for all prior taxable
years under Section 5B above, without regard to this
Section, as-has notr theretofore been deferred. In
no event may the amount of DEFERRED COMPENSATION for
the year ezceed the-total amount of COMPENSATION for
the year. A prior taxable year can be taken into
account only if such taxable year begins after
December 31, 1878,- the-PARTICIPANT was eligible to
participate in the PLAN during all or any portion of
the- taxable year,_aad the amount of COMPENSATION
deferred under tlie•PLAN during the taxable_year was
subject to a ceiling required by Section 457 of the
CODE. A prior taxable year includes a taxable year in
which the PARTICIPANT was eligible to participate in an
eligible plan sponsored by a different entity, provided
that the entities sponsoring the plans are located
within the same;State.
D. If an individual is a PARTICIPANT in more than one
eligible State DEFERRED COMPENSATION PLAN estatefished
pursuant to Section 457 of the CODE, the amount of
COMPENSATION deferred under this PLAN when added to the
COMPENSATION deferred under all such others PLANS, may
not eaeeed the maaimum amounts set-forth in Sections
5B aa& 5C above.
6. ADMINISTRATION OF THE PLAN:
A. The EMPLOYER shall have-full authority and power to adopt
the. rules aad regulations for the administration of the
PLAN, and to interpret, amend, alter, and revoke any rules
and regulations so adopted.
B. The EMPLOYER may, at its option, establish one oz' more
DEFERRED COMPENSATION PLAN Funds to which. DEFERRED
COMPENSATION is credited at such times as the COMPENSATION
would have bees payable to individual employees if they
were not PARTICIPANTS in the PLAN.
7, EARNINGS OF THE FUND- -
If a fund is established pursuant to Section 68, and such fund
is invested and reinvested in a manner intended to increase
PLAN assets, the net earnings of such fund may be accumulated
and held in the fund, provided that such assets remain the
unrestricted assets of the EMPLOYER as set forth in Section.8
below.
8. ASSETS OF THE PLAN:
All amounts of COMPENSATION deferred under the PLAN, all
property and rights purchased with such amounts, and all income
attributable to such amounts, property, or rights shall. remain
solely the property and rights of the EMPLOYER, subject only to
the claims of the EMPLOYER'S general creditors, until made
available to the PARTICIPANT or other beneficiary. The
obligation of the EMPLOYER to a PARTICIPANT for payment of the
DEFERRED COMPENSATION and. increments thereon referred to in
this PLAN is a contractual obligation only and PART'ICTFANTS
shall have no preferred or specific interest by way of trust,
escrow, annuity or otherwise, in and to the specific assets or
funds that may be established.
9. MAINTENANCE OF BOOR ACCOUNTS
•A book account shall be maintained for each PARTICIPANT. There
shall be .credited to the book account all amounts of COMPENSATION
deferred under the PLAN and all fncome attributable to such
amounts. The income attributable to an amount shall mean the
actual earnings of the fund established pursuant to Section 6B
of the PLAN, if such a fund is established by the EMPLOYER,
allocated on a pro rata basis but in no event less than the
earnings that would have been earned if the amounts deferred
had been invested from time to time in one or more of the
various investment options available within the PLAN.
10.
DISTRIBDTION OF BENEFITS:
Distribution of benefits to each PARTICIPANT shall commence
not later than thirty (30} days after the end of the calendar
year following a distribution event, providing the PARTICIPANT
has submitted written notification to the EMPLOYER requesting
distribution.. The PARTICIPANT must elect a mode of
distribution irrevocably not less than thirty 430) days prior
to the-date on which the distribution is to be made or is to
commence.. A PARTICIPANT who elects a mode of distribution on
or aftez such date will be deemed to be in constructive receipt
of the sum of all amounts- deferred.- Ia the. event a distribution
event occurs prior to the date- the PARTICIPANT attains NORMAL
RETIREMENT AGE, the PARTICIPANT may irrevocably elect, prior to
the time any amounts. become- payable, to defer payment of some or
all of such amounts until such time as the PARTICIPANT attains
NORMAL RETIREMENT AGE.
A. Retirement: _
In the- event of retirement, the amount credited to the
PARTICIPANT'S book account. shall be distributed to him/her
in any one or wre of the methods stated in Section 11.
B. Termination of Employment:
In the event of the PARTICIPANT'S termination of employment
with the EMPLOYER all amounts credited to the PARTICIPANT'S
book. account shall be distributed to him/her in any one or
more of the methods as stated in Section 11.
C. Disability:
In the event of termination of employment by reason of
disability, distribution of all amounts credited to the
PARTICIPANT'S book account shall be distributed to him/her
in any one or more of the methods as stated in-Section 11.
D. Death:
In the event of the death of. the PARTICIPANT ail amounts
credited to his/her book account shall be distributed to the
named beneficiary(ies) or estate over a period not greater
than:
1) The life expectancy of the beneficiary, if the
beneficiary is the PARTICIPANT'S surviving spouse,
or
2) Fffteen (15) years, if the beneficiary is not the
PARTICIPANT'S surviving spouse.
11. MODE OF DISTRIBUTION:
All funds credited to a PARTICIPANT'S book account shall be
distributed by any one or more of the following methods:
A. In a lump sum..
B. In consecutive periodic payments monthly, quarterly,
semi-annually or annually over a period of years from the
date distribution began; not to exceed his/her life
expectancy.
C. In monthly, quarterly, semi-annual or annual installments
over the life expectancy of the PARTICIPANT, or PARTICIPANT
and his/her spouse.. Life expectancy shall be actuarially
determined by the EMPLOYER based on the date the initial
distribution shah begin..
D. Amounts distributed each year, beginning with the taxable
year in which the PARTICIPANT attains age 70 1/2 or, if
later, the taxable year in which payments commence, shall
not be Iess than the lesser of the balance of amounts
deferred or an amount equal to the quotient obtained by
dividing the balance of amounts deferred at the beginning
of such year by the life expectancy of the PARTICIPANT or
the joint life expectancy of the PARTICIPANT and the
PARTICIPANT'S spouse, as applicable, determined as of the
date the PARTICIPANT attains age- 70 and reduced by one for
each taxable-year commencing after the PARTICIPANT attains
age 7D 1/2.
12. EMERGENCY WITHDRAWALS:
If a PARTICIPANT is faced with an unforeseeable emergency, the
PARTICIPANT may apply to the EMPLOYER for withdrawal of funds
from the PLAN. Such withdrawals shall be permitted, in the
EMPLOYER'S discretion, only in circumstances of an unforeseeable
emergency.
An unforeseeable emergency is severe financial hardship to the
PARTICIPANT resulting from a sudden and unexpected illness or
accident of the PARTICIPANT or of a dependent of the PARTICIPANT,
loss of the PARTICIPANT'S property due to casualty, or other
similar extraordinary and nnfareseeable circumstances arising as
a result of events beyond the control of the PARTICIPANT. The
circumstances that will constitute an unforeseeable emergency
will depend upon .the facts of each case, but, in any case,
payment may not be made- to the extent that such hardship is or
may be relieved by: _
1} Reimbursement or compensation by insurance or otherwise,
2) Liquidation of the PARTICIPANT'S assets, to the extent
the liquidation of such assets would not itself cause
severe financial hardship, or
3) Cessation o€ deferrals under the PLAN.
Withdrawals of amounts due to an unforeseeable emergency shall
only be permitted to the extent reasonably needed to satisfy the
emergen'~y need.
13. PLAN TO PLAN TRANSFERS:
A. The EMPLOYER shalt accept funds from other eligible -State
DEFERRED COMPENSATION PLANS established pursuant to Section
457 of the-CODE to be transferred and added to the
PARTICIPANT'S book account within the PLAN provided that all
of the following conditions eaist:
1_ The funds so transferred were deferred by the
PARTICIPANT from COMPENSATION while employed by a
political subdivision residing in the same State as the
Employer, and;
2. The funds so transferred are from.
that if the PARTICIPANT separates
to accept employment with another
will not commence upon-separation
regardless of any- other provision
amounts previously deferred will
transferred.
a plan that provides
from service in order
such entity, payout
from service,
of the plan,. and
automatically be
B. Amounts deferred by a former PARTICIPANT shall be
transferred to another eligible plan of which the former
PARTICIPANT has become. a participant provided that the other
plan is sponsored by as entity within the same State as the
EMPLOYER and the plan receiving such amounts provides for
the acceptance of the: amounts.
C. Regardless of any other provision of the PLAN, if the
PARTICIPANT separates from service with the EMPLOYER in order
to accept employment with another such entity, payout will
not commence upon separation from service and amounts
previously deferred will automatically be transferred.
14. MISCELLANEOUS:
A. Amounts deferred under a State DEFERRED COMPENSATION PLAN
in taxable years- beginning before January 1, 1979 are hereby
made a part of this PLAN.
B. The PLAN shall allow the redirection of past deferrals as
well as current deferrals, as applicable, into different
.investment modes available.within the PLAN. The.redirectian
of such. amounts may occur before or. after payments have
commenced under the PLAN.
C. COMPENSATION deferred under this PLAN shall be taken into
account at its value in the PLAN year in which deferred.
15. NON-ASSIGNABIbZTY CLAIISE:
It is agreed that neither the PARTICIPANT nor his/her
beneficiary, nor any other designee, shalt have any right to
commute, sell, assign,. transfer, or otherwise convey the right
to receive any payments hereunder, which payments and right
thereto are expressly declared to be non-assignable and non-
transferable, and in the event of any attempted assignment of
transfer, the EMPLOYER shall have no further liability hereunder
nor shall any payments be transferable by operation of law in
in event of bankruptcy or insolvency, except to the extent
otherwise provide by law, notwithstanding the above clause.
16. COMMUNICATION:
Any notice, filing or communication directed to the EMPLOYER
shall be mailed- or delivered to the following address:
Personnel Department, City of Santa Monica
1685 Main Street
Santa Monica, California 90401
Any notice or communication directed to any PARTICIPANT shall
be mailed or delivered to the address provided_in his/her
PARTICIPATION AGREEMENT".
17. AMENDMENT OR TERMINATION OF PLAN:
The EMPLOYER may, at any time, terminate this PLAN for .all
PARTICIPANTS. Upon such termination, each PARTICIPANT in the
PLAN will be deemed to have revoked. his/her PARTICIPATION
AGREEMENT as of the date of such termination.
The EMPLOYER may also amend the provisions of this PLAN at any
time; provided, however, that no amendment shall affect the
rights of the PARTICIPANTS or their beneficiaries to the receipt
of payment of benefits, to the extent of any compensation
deferred at the time of the amendment as adjusted for income
attributable to such DEFERRED COMPENSATION prior to and
subsequent to the amendment.
This PLAN is intended to qualify as-an eligible State DEFERRED
COMPENSATION PLAN: under Section 457 of the CODE, and shall be
interpreted and administered in a manner consistent with such
qualification. The EMPLOYER reserves the right to amend the
PLAN to the extent that may be necessary to conform the PLAN to
the requirements of Section 457 of the CODE and any other
applicable law, regulation or ruling, including amendments that
are retroactive to the effective date of the PLAN. In the event
that the PLAN is deemed by the Internal Revenue Seroice to be
administered in a manner inconsistent. with Section 457 of the
CODE, the EMPLOYER shall correct such administration within the
period provided in Section
reserves the right to take
required to make the PLAN,
Section 457 0€ the CODE.
The EMPLOYER hereby establishes
the terms and conditions set fo
DATE:
APPROVED AS TO FORM:
~J'i w'~
ROBERT MYERS
CITY ATTORNEY
457 bf the CODE. The EMPLOYER
such action and do such things as are
as administered, consistent with
this DEFERRED COMPENSATION PLAN on
:th herein.
BY:
BY:
ADOPTED ANO APPROVED THIS 11th DAY
OF October , 1983.
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTION
N0. 6759 _WAS DULY ADOPTED BY THE CITY COUNCIL OF THE
CITY OF SANTA MONICA AT A MEETING THEREOF HELD ON
October 11 1985 gy THE FOLLOWING COUNCIL VOTE:
AYES: COUNCILMEMBERS: Epstein, Jennings, Reed,
Zane and Mayor Edwards
NOES: COUNCILMEMBERS• none
ABSENT: COUNCILMEM,BERS: Conn and Press
ABSTAIN: C.OUNCILMEMBERS: none
ATTEST:
~ ~~~
CITY CLERK
DISTRIBUTION OF RESOLUTION # ~'~ ORDINANCE~#
Council Meeting Date /o -l/ Introduced:
Agenda Item +~ ~ "~~- ~-~~~`~°
Adopted:
Was it amended.?
* ALWAYS PUBLISH aIbPTED ORDINANCES
VOTE: Affirmative: ~ ~-C~
Negative:
Abstainr
Absent: ~~.~ ~..z~
DISTRIBUTION: ORIGINAL to be signed, sealed and filed in Vault.
VEWSPAPER PUBLICATION (Dater )
p -T
Department originating staff report ( ,Q~/Z.,yiyt~}%,~_/~-- ) I 1 ~
City Attorney (those with their codes) ~-
Agency mentioned in document or staff report
(certified?)
Subject file (agenda packet) 1
Counter file ~~
Others: --~-
Airport Parking Auth. ~-
Auditoium Personnel
Building Dept. Planning
Environ. Serv. Police (en-
Finance d! j
Purchasing
Recr/Parks
General Serv.
Transportation
Library
Treasurer
Manager .
SEND FOUR COPIES OF ALL ORDINANCES~TO:
CQDED SYSTEMS, Attn eter iac earie
PROFESSIONAL CENTER, RQUTE 71
BRIELLE. NEW JERSEY 08-730
SEND FOUR COPIES OF ALT` ORiIT\iA\TCFS T0:
PRESIDING JUDCE
SANTA MONICA MUNICIPAL COURT
1725 MAIN STREET
SANTA i~IONICA, CA 90401 TOTAL COPIES