CC RES 1981-012 RESOLUTION NO. 81-12
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES ESTABLISHING A DEFERRED COMPENSATION PROGRAM
WITH THE INTERNATIONAL CITY MANAGEMENT RETIREMENT CORPORATION
WHEREAS, the City of Rancho Palos Verdes has in its employ certain personnel;
and
WHEREAS, said employees are and will be rendering valuable services to the City
of Rancho Palos Verdes; and
II/ WHEREAS, the City of Rancho Palos Verdes has considered the establishment of a
Deferred Compensation Plan for the said employees made available to the City of Rancho
Palos Verdes and to said employees by the International City Manager Association Re-
tirement Corporation; and
WHEREAS, said employees often are unable to acquire retirement security under
other existing and available retirement plans due to the contingencies of employment
mobility; and
WHEREAS, the City of Rancho Palos Verdes receives benefits under said plans by
being able to assure reasonable retirement security to said employees by being more
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, BE IT RESOLVED that the City of Rancho Palos Verdes establish said
Deferred Compensation Plan for said employees and hereby authorizes its Mayor to execute
the Deferred Compensation Plan with the International City Management Association Re-
tirement Corporation, attached hereto as Appendix 1 ; and
IT IS FURTHER RESOLVED that the City Manager may on behalf of the City of Rancho
Palos Verdes 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 as Appendix 2, except that any Joinder Agreement for said
designated official shall be executed by the Mayor.
PASSED, APPROVED AND ADOPTED this 3rd day of February, 1981.
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MAYOR
ATTEST:
DONALD F. GULUZZY, CITY CLERK &
EX OFFICIO CLERK OF THE COUNCIL
/27,iI.A 1' At AL.' I r
CIT . CLE''
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I HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution
No. 81-12 approved and adopted by the City Council of the City of Rancho Palos Verdes
at a meeting thereof held on the 3rd day of February, 1981.
42th;i,/(;A
J CITY LERK
Appendix
INTERNATIONAL CITY MANAGEMENT ASSOCIATION
RETIREMENT CORPORATION
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DEFERRED COMPENSATION PLAN
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Amended as of June 28, 1974 and March 23.1979
It is hereby agreed that this DEFERRED COMPENSATION PLAN shall be in effect on the date upon which the Employer has caused it to be
executed by an official affixing his signature on behalf of the Governing Body in the space provided below. However, the DEFERRED ='
COMPENSATION PLAN will not be legally binding upon the International City Management Association Retirement Corporation until a Notice of
1. Plan Acceptance has been supplied by it.
CITY OF RANCHO PALOS VERDES
Legal Name of the Employer
Attest For the Employer
Attes.for the Employer:
strii4.4fist zi By:
Signature of Authorized Official Signature of Authorized Official
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4117. Sly atur
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BARBARA HE IN, MAYOR
Print Name and Title
SEE INSTRUCTIONS FOR IMPLEMENTATION PRIOR TO COMPLETING THIS SECTION
Complete the foi'.owing prior to rnai:ing the Agreement to the Retirement Corporation.
Full Name(City of, County of,etc.) CITY OF RANCHO PALOS VERDES
Title of Official to whom correspondence and reports are to be mailed:
(not name) CITY MANAGER -
Address:(include z;pcode) __30940 HAWTHORNE BOULEVARD RANCHO PALOS VERDES CA •02
Employers'Federal Tax Identification Number: 95-2867872
How often will you make contributions? SEMI-MONTHLY
What is the date of your first contribution?.MARCH 5, 19 81 -
Total Number of Employees: 23 Number of employees eligible to participate: 23
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