HomeMy WebLinkAbout02-221 - Resolutions RESOLUTION NO. 02-221
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA AUTHORIZING THE
ESTABLISHMENT OF THE PARS RETIREMENT SYSTEM
PLAN TO BE ADMINISTERED BY PHASE II SYSTEMS, PARS
TRUST ADMINISTRATOR FOR CITY EMPLOYEES
WHEREAS, The City Council of the City of Rancho Cucamonga has determined
that it is in the best interest of the City to establish the PARS Retirement System Plan to provide
retirement benefits for its employees and their beneficiaries; and
WHEREAS, the City is eligible to be a member of the Public Agency Retirement
System (PARS) and provide to its employees a governmental plan, qualifying under relevant
sections of the Internal Revenue Code and the California Government Code; and,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Rancho Cucamonga, California that:
1. The City Council does hereby adopt the PARS Trust, including the PARS
Retirement System Plan (RSP) for City employees effective December 1,
2002.
2. The City's PARS Administrator is hereby authorized to execute the PARS
legal and administrative service documents on behalf of the City to implement
a PARS supplemental plan to CaIPERS. In addition, if the City's PARS
Administrator finds that the PARS supplemental plan benefit must be limited
under Section 415 of Internal Revenue Code, then the Plan Administrator will
implement replacement benefit programs at no additional cost to the City.
3. The City Council hereby appoints the City Manager or his successor or his
designee as the City's Plan Administrator for PARS, and further authorizes
him to implement the Plans and to take whatever additional actions are
necessary to maintain the participation of the City in PARS and to maintain
PARS compliance with relevant regulations issued or as may be issued by
the Federal or State government or agencies.
P1aase see ala IdlaLlng page
for formal adoption,certification and signatures
Resolution No. 02-221
Page 2 of 2
PASSED, APPROVED, AND ADOPTED this 17`h day of July 2002.
AYES: Alexander, Biane, Curatalo, Dutton, Williams
NOES: None
ABSENT: None
ABSTAINED: None
t
William J. Ale nder, Mayor
ATTEST:
4LaJ.hAdanjV MC, City Clerk
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed, approved and
adopted by the City Council of the City of Rancho Cucamonga, California, at a Regular Meeting
of said City Council held on the 17`h day of July 2002.
Executed this 18`h day of July 2002, at Rancho Cucamonga, California.
'D4bra J. Adam C, City Clerk