HomeMy WebLinkAboutResolutions - R-01-015 - 05/30/2001 - ADOPTING DEFERRED COMP PLAN FOR EMPLOYEESNAYS: NONE
ABSENT NONE
R-01-015
RESOLUTION
WHEREAS, the City of McHenry, Illinois has employees rendering
valuable services; and,
WHEREAS, the establishment of a deferred compensation plan for such
employees serves the interest of the City of McHenry, Illinois by enabling it
to provide reasonable retirement security for its employees, by providing
increased flexibility in its personnel management system, and assisting in the
attraction of competent personnel; and,
WHEREAS, the City of McHenry, Illinois has determined that the
establishment of a deferred compensation plan to be administered by the
Prudential Insurance Company of America and Retirement Plan Advisors,
LLC. serves the above objectives; and
NOW THEREFORE, BE IT RESOLVED by the City of McHenry,
Illinois as follows:
SECTION ONE: The City of McHenry, Illinois hereby amends the
established deferred compensation plan, attached hereto as Attachment A, to
include the Prudential Insurance Company of America and Retirement Plan
Advisors as an option to the Deferred Compensation Plan. The City
Administrator (or his/her designee) is authorized to sign all necessary
documents.
SECTION TWO: The City Administrator (or his/her designee) shall be the
coordinator for this program; shall receive all necessary reports, notices, etc.,
shall cast, on behalf of the City of McHenry, Illinois, any required votes
under The Plan; may assign administrative duties to carry out The Plan to
appropriate departments, and is authorized to execute all necessary
agreements incidental to the administration of The Plan.
AYES: BOLGER, GLAB, LOW Passed this 30`h day of May, 2001
MURGATROYD,WIMMER
(Mayor)
C
(City erk)