HomeMy WebLinkAboutReso 2001-408 RESOLUTION NO. 2001-408
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA ADOPTING A 401 (a) DEFERRED
COMPENSATION PLAN AND APPROVING A PLAN
ADMINISTRATION AGREEMENT WITH NATIONAL
DEFERRED COMPENSATION INC.
WHEREAS, the City Council recently approved the provision of a new deferred
compensation plan for Executive and Senior Management employees to be effective in January,
2002, in addition to the 457 Deferred Compensation Plan currently offered; and
WHEREAS, staff is recommending adoption of a plan established pursuant to Internal
Revenue Service Code Section 401(a); and
WHEREAS, staff is also recommending that the new Plan be administered through an
administration agreement with one of the City's existing plan administrator, National Deferred
Compensation Inc.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista
does hereby adopt a 401(a) Deferred Compensation Plan and approve a Plan Administration
Agreement, a copy of which shall be kept on file in the Office of the City Clerk.
BE IT FURTHER RESOLVED that Assistant City Manager Powell of the City of Chula
Vista is hereby authorized and directed to execute said agreement on behalf of the City.
Presented by Approved as to form by
Robert Powell Js)lqn~. Kaheny
Assistant City Manager ~ Attorney
Resolution 2001-408
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 4th day of December, 2001, by the following vote:
AYES: Councilmembers: Davis, Padilla, Rindone, S alas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shirley Hortor~Mayor
ATTEST:
Susan Bigelow, City Cler~
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2001-408 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 4th day of December, 2001.
Executed this 4th day of December, 2001.
Susan Bigelow, City Clerk