R-6411
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RESOLUTION NO.
6411
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA AUTHORIZING PARTICIPATION
IN A DEFERRED COMPENSATION PLAN MADE AVAILABE BY
THE INTERNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
WHEREAS, the City has in its employ certain personnel, and
WHEREAS, said employees are and will be rendering valuable
serv~ces to the City, and
WHEREAS, the City has considered the establishment of a De-
ferred Compensation Plan for the said employees made available
to the City and to said employees by the International City
Management Assoc1ation Retirement Corporation, and
WHEREAS, said employees are often unable to acquire retire-
ment security under other existing and available retirement plans
due to the contingencies of employment mobility, and
WHEREAS, the City receives benefits under said plans by
being able to assure reasonable retirement security to said em-
ployees, by be1ng able to attract competent personnel to its
service, and by increasing its flexibility in personnel management
through elimination of the need for continued employment for the
sole purpose of allowing an employee to qualify for retirement
benefits.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS.
Section 1. That the City establish said Deferred Compensa-
tion Plan for said employees and hereby authorizes the City Manager
to execute the Deferred Compensation Plan with the International
City Management Association Retirement Corporation, attached hereto
as Appendix A
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Section 2 That the City Manager may, on behalf of the
City execute all Joinder Agreements with said employees and
other eligible officials and officers, which are necessary for
said persons participation in the Plan, an example of which
appears at Appendix B, except that any joinder agreement for
said designated official shall be executed by the Mayor.
Section 3 The City Clerk shall certify to the adoption
of this resolution and thenceforth and thereafter the same shall
be in full force and effect
APPROVED AS TO FORM.
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ROBERT M MYERS U
City Attorney
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ADOPTED AND APPROVED THIS
15th
DAY
OF December 15
I
, 1 981.
(Z1r~~i
UAYOR
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTION
NO. 6411
WAS DULY ADOPTED BY THE CITY COUHCIL OF THE
CITY OF SANTA MONICA AT A REGULAR MEETING THEREOF HELD ON
December 15 , 1981 BY THE FOLLOWING COUNCIL VOTE:
AYES: COUNCILMEMBERS: Conn, Edwards, Press, Reed, Zane
Mayor Ruth Yannatta Go1dway
NOES: COUNCIU>1H1BERS: None
ABSENT: COUNCILMEMBERS: Jennings
ABSTAIU: COUNCILr<1Ef1BERS: None
ATTEST:
U'~l 771
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Wu:lt-<
CITY CLERK