1981R06- DEFERRED COMPENSATION PLAN
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RESOLUTION NO. ~~-R-&
A RESOLUTION
ESTABLISHING A DEFERRED COMPENSATION PLAN AND AUTHORIZ-
ING THE CITY MANAGER TO EXECUTE SAME WITH THE INTERNATIONAL
CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION.
and
WHEREAS, the City of Schertz has in its employ certain personnel;
WHEREAS, said employees are and will be rendering valuable services
to the City of Schertz, Texas; and
WHEREAS, the City of Schertz has considered the establishment of
a Deferred Compensation Plan for the said employees made available to the
City of Schertz and to said employees by the Internation 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 Schertz rece,ives 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 in-
creasing its flexibility in 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 BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
THAT the City of Schertz establish said Deferred Compensation Plan
for employees and hereby authorizes its City Mayor to execute the Deferred
Compensation Plan with the International City Management Association Retire-
ment Corporation, attached hereto as Appendix A; and
BE IT FURTHER RESOLVED:
THAT the City Manager may, on behalf of the City of Schertz, execute
all Joinder Agreements with said employees and other eligible officials and
officers, which are necessary for said persons participation in the Plan, an
example of which appears as Appendix B, except that any Joinder Agreement for
said designated official shall be executed by the Mayor.
PASSED, APPROVED AND ADOPTED this the ,~ day of ~
19 ~I
ATTEST:
(SEAL OF CITY)