HomeMy WebLinkAboutResolutions - R-15-010 - 09/14/2015 - NATIONWIDE RETIREMENT SOLUTIONSR-15-010
RESOLUTION
WHEREAS, the City of McHenry as "Employer" has employees rendering valuable services; and
WHEREAS, the Employer has provided for the establishment of Deferred Compensation Plans to
be made available to all eligible employees to provide reasonable retirement security pursuant to Federal
legislation permitting such plans and;
WHEREAS, the Employer has determined to offer Nationwide Retirement Solutions as a Deferred
Compensation Plan Administrator to its employees; and
WHEREAS, such benefits will act as incentives to employees to voluntarily set aside and invest
portions of their current income to help meet their future financial requirements at no cost to the Employer.
NOW THEREFORE, BE IT FURTHER RESOLVED by the City of McHenry as follows:
SECTION ONE: As Employer, the City of McHenry hereby establishes the Deferred
Compensation Plan offered by Nationwide Retirement Solutions for voluntary participation of all
eligible employees.
SECTION TWO: Nationwide Retirement Solutions is hereby authorized to execute for the
Employer, individual participation agreements with each said employee requesting same, and to act
as the Administrator of the plan representing the Employer and to execute such agreements and
contracts as are necessary to implement the program at no cost to the Employer.
BE IT FURTHER RESOLVED that the City Clerk is authorized and directed to file a duly certified copy
of this Resolution with Nationwide Retirement Solutions.
PASSED this 141" day of September 2015.
Voting Aye: CONDON, PETERSON, WIMMER, CURRY, SCHAEFER, GLAB, SANTI
Voting Nay: NONE
Not Voting: NONE
Abstaining: NONE
Absent: NONE
ATTEST:
City C erk
Mayor