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M M
337
RESOLUTION NO. 10 021
A RESOLUTION TO PERMIT THE CHIEF DEPUTY CITY
ATTORNEY AND DEPUTY CITY ATTORNEYS TO
PARTICIPATE IN THE MONEY PURCHASE RETIREMENT
PLAN ADMINISTERED BY THE ICMA RETIREMENT
CORPORATION; AND FOR OTHER PURPOSES.
WHEREAS, during the annual evaluation of the City Attorney conducted in December
1996, it was decided that he could participate in a separate nonuniform pension plan sponsored by
the ICMA Retirement Corporation; and
WHEREAS, the City formally opened an account with this organization to let the City
Attorney and other executives that wish to do so participate; and
WHEREAS, this plan is in the nature of a deferred compensation plan for valuable
employees to the City, as may from time to time be identified by the Board of Directors or the City
Manager, and this plan serves the interests of the City by enabling it to provide reasonable
retirement security for these employees, by providing increased flexibility in its personnel
management system, and by assistant, attracting and retaining competent personnel; and
WHEREAS, the City desires that a plan such as this be administered by the ICMA
Retirement Corporation, and that the funds held under such a plan be invested in the ICMA
Retirement Trust, a trust established by public employers for the collective investment of funds held
under their retirement and deferred compensation plans; and
WHEREAS, the City formally authorized the opening of a 401(a) retirement account to
accomplish these purposes with the adoption of Resolution No. 9,951 and 9,987; and
WHEREAS, the City wishes to make this retirement plan option available to the Chief
Deputy City Attorney and Deputy City Attorneys.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Chief Deputy City Attorney and Deputy City Attorneys are specifically
permitted to benefit from the Section 401(a) Plan adopted by the City in Resolution No. 9,951 and
9,987 and the City Manager is directed to assure that these employees are permitted to withdraw
from the present nonuniform employees defined contribution plan upon being notified that the
employees elect this option, and that all nontaxed funds be forwarded to ICMA Retirement Trust
at the soonest practicable moment.
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• • 338
PASSED: July 1,'1997
ATTEST:
ROBBIE HANCOCK
CITY CLERK
APPROVED AS TO FORM:
THOMAS M. CAR]
CITY ATTORNEY
Spa
APPROVED:
JIM AILEY
MAYOR