HomeMy WebLinkAbout5133 RESOLUTION NO. 5 ,133
A RESOLUTION ESTABLISHING A DEFERRED COMPENSATION
PLAN FOR CERTAIN EMPLOYEES OF THE CITY OF LITTLE
ROCK; AUTHORIZING THE EXECUTION OF A MASTER TRUST
AGREEMENT WITH THE INTERNATIONAL CITY MANAGEMENT
ASSOCIATION RETIREMENT CORPORATION; AND FOR OTHER
PURPOSES
WHEREAS, the City of Little Rock, Arkansas has in its employ
certain Administrative, Professional and Technical personnel; and
WHEREAS, said employees are and will be rendering valuable
services to the City of Little Rock; and
WHEREAS, the City of Little Rock has considered the establish-
ment of a Deferred Compensation Plan for said employees made available
to the City of Little Rock and to said employees by the International
City Management Association Retirement 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 Little Rock 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 to 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 Little Rock,
Arkansas establish said Deferred Compensation Plan for said
employees and hereby authorizes the Mayor and City Clerk to execute
the Master Trust Agreement with the International City Management
Association Retirement Corportaion, attached hereto as Appendix
A; and
IT IS FURTHER RESOLVED that the City Manager may, on behalf
of the City of Little Rock execute all Deferred Compensation
Agreements with said employees and other elgible officers and
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officials, which are necessary for said persons participation in
the plan, an example of which appears as appendix B hereto, except
that any Deferred Compensation Employment Agreement for the City
Manager shall be executed by the Mayor of the City of Little Rock.
This Resolution shall be in full force and effect from and
after its adoption.
ADOPTED: January 15, 1974
ATTEST: APPROVED:
City Cl rk Vice Mayor
See; Resolution Rec. #6- 1-15-74 for Appendix A & Appendix B.