RESO 1980-26 - Deferred Compensation Plan•
RESOLUTION NO. 80 -26
RESOLUTION OF THE CITY OF HUNTSVILLE, TEXAS ESTABLISHING
A DEFERRED COMPENSATION PLAN FOR THE CITY OF HUNTSVILLE
WHEREAS, the City of Huntsville has in its employ certain personnel; and
WHEREAS, said employees are and will be rendering valuable services to
the City; and
WHEREAS, the City has considered the establishment of a Deferred Compen-
sation Plan for the said employees made available to the City and to said
employees by the International City Management Association Retirement Corpora-
tion; 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 receives 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 increasing 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 that the City will establish said Deferred
Compensation Plan for said employees and hereby authorizes its Mayor to execute
the Deferred Compensation Plan with the International City Management Association
Retirement Corporation, and
IT IS FURTHER RESOLVED that the City Manager may, on behalf of the City,
execute all Joinder Agreements with said employees and other eligible officials
and officers, which are necessary for said persons participation in the Plan,
except that any Joinder Agreement for said designated official shall be executed
by the Mayor.
APPROVED AND SIGNED this the 16th day of September , A.D., 1980.
(SEAL)
THE CITY OF HUNTSVILLE, TEXAS
.CA., I�NC
Morris I. Waller, Mayor