HomeMy WebLinkAboutRESOLUTION 1979-81, -r _ _ _ __ _ ~ ~ -.- ^ ~ , -~
CITY OF KENAI
RESOLUTION NO 79-81
A RESOLUTION OF TNE COUNCIL OF TNE CITY OP KENAI, ALASKA AUTHORIZING THE
CITY MANAGER AND THE FINANCE DIRECTOR OF THE CITY OF KENAI, ALASKA TO EXECUTE
THE PLAN DOCUMENT AND FUTURE PLAN DOCUMENTS FOR OEFERRED COMPENSATION AGREEMENTS
WITH THE INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION.
WHEREAS, the City of Kenai has in its employ certain personnel, and
WHEREAS, said employees are and wfll 6e renderfng valuable services to the
City of Kenai, and
WHEREAS, the City of Kena9 has considered the establisiment of a Deferred
Canpensa±ivn Plan for said employees made ava11ab1e to the City of Kenai and to
said employees by the International Ctty Management Retirenent Corporation, and
WHEREAS, the City of Kenai recelves beneflts under said plans by being able to ~
assure reasonable retirement security to satd employees, by being more able to ,
attract competent personnel to 1ts servfce, and 6y increasing its flexibility in ,
personnel management tF~rougf~ ellmtnation ot tf~e need for continued employment ~ .
for the sole purpose of allowing an employee to qualify for retireine~~t benefits. ~
NOM, TNEREFORE, BE IT RESOLYED t~iat t6e City of Kena1 establishes said Deferred : ~
Canpensation P1an for said enployees and here6y autf~orizes its City Manager to ~
execute the Deferred Compensatlon Plan wtth the internation Manag~nent Association
Retirement Corporatlon, attacbed hereto as Appendix A; and
BE IT FlIRTHER RESOLVED that tBe Ptnance Director may, on behalf of the City of
Kenai execute a11 Joinder Agreements Ntth safd employees and other eligible
officials and officers, which are necessary for safd persons participation in the
plan except that any Joinder Agreement for said designated official sha11
be executed by the City Manager.
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INCENT 0'REILLY
ATTEST
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Su eter, C ty C er
Approved by Finance Director {~~