RES 96127 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 96-127 RESOLUTION ADOPTING THE CALIFORNIA PUBLIC EMPLOYEES' DEFERRED COMPENSATION PLAN WHEREAS, the City of Pleasanton desires to establish an additional deferred compensation plan for the benefit of its employees; and WHEREAS, the Board of Administration (the "Board") of the California Public Employees' Retirement System CPERS") has established the California Public Employees Deferred Compensation Plan (the "PERS Plan") which may be adopted by a governmental employer the employees of which are members of PERS; and WHEREAS, the City of Pleasanton believes that the PERS Plan and the investment options available thereunder will provide valuable benefits to its employees; and WHEREAS, the Board has appointed State Street Bank and Trust Company and State Street Bank and Trust Company of California N.A. (collectively, "State Street") to perform administrative services under the PERS Plan and to act as the Board's agent in all matters relating to the administration of the PER5 Plan. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City of Pleasanton adopts the PERS Plan for the benefit of its employees and authorizes and directs the City Manager to execute the attached Adoption Agreement on behalf of the City of Pleasanton, to provide State Street with the specific terms and conditions of the City of Pleasanton's participation in the PERS Plan, and to provide State Street with such information and cooperation as may be needed on an on-going basis in the administration of the PERS Plan. A copy of this resolution, the agreement, and any attachments thereto shall be on file in the office of the City Clerk.