HomeMy WebLinkAbout79-79 - Resolutions RESOLUTION NO. 79-79
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RA~CHO
CUCAMONGA, CALIFORNIA, ADOPTING AN EMPLOYEES ' DEFERRED
COMPENSATION PLAN AND AUTHORIZING THE EXECUTION OF
AGREEM]ENTS RELATED TO SAID PLAN.
WHEREAS, the City of Rancho Cucamonga has in its employ employees
who are and will be rendering valuable services to the City; and
WHEREAS, said employee may desire to defer income until retirement
for the purpose of deferring Federal and State Income Taxes on said
income; and
~HEREAS, the City Council of the City of Rancho Cucamonga has
considered the establishment of a Deferred Compensation Plan for the
said employees and believes that the adoption of said Plan will enhance
the efficiency and morale of the employees and will be in the best
interests of the City; and
WHEREAS, it is intended that said Plan shall be in accordance
with Federal and State law and regulations; and
WHEREAS, the City Council finds that it would be for the
benefit and in the best interests of the City to approve the proposed
Deferred Compensation Plan this day submitted to the City Council.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Rancho Cucamonga that the City Council establish said Deferred Compensation
Plan for said employees of the City and that said Deferred Compensation
Plan this day submitted to the City Council, which is attached hereto as
Exhibit "A" be, and the same is hereby approved and adopted, to be
effective October 3, 1979, and to remain in effect until terminated by
further resolution of the City Council.
BE IT FURTHER RESOLVED THAT the City Manager is hereby appointed
to administer the Plan on behalf of the City and is authorized to
execute Participation Agreements with eligible officers, officials and
employees, and all other Documents and Agreements necessary to implement
and administer the Plan.
PASSED, APPROVED, and ADOPTED this 3rd day of October, 1979.
AYES: Schlosser, Bridge, Mikeis, Palombo, Frost
NOES: None
ABSENT: None
ATTEST: ~
City Clerk ~'
EXHIBIT "A"
Lauren M. Wasserman 573-54-0642 01-19-16 $127.00
Harry Empey 554-~4-9604 01-19-16 $ 25.00
Claudia Monahan 545-96-7740 01-19-16 $ 50.00
Barry Hogan 546-72-7554 01-19-16 $ 50.00
James Ware 567-05-8034 01-19-16 $ 50.00
Jack Lam 571-74-8735 01-19-16 $ 75.00