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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 85-525 <br /> <br /> IMPLEMENTATION OF A DEFERRED COMPENSATION PLAN <br /> FOR MANAGEMENT PERSONNEL <br /> <br />WHEREAS, the Employer has employees rendering valuable services; <br /> and <br /> <br />WHEREAS, the establishment of a deferred compensation plan for <br /> such employees will serve the interests of the Employer <br /> by enabling it to provide reasonable retirement security <br /> for its employees, by providing increased flexibility in <br /> its personnel management system, and by assisting in the <br /> attraction and retention of competent personnel; and <br /> <br />WHEREAS, the Employer has determined that the establishment of a <br /> deferred compensation plan to be administered by the <br /> ICMA Retirement Corporation will serve the above <br /> objectives, and <br /> <br />WHEREAS, the Employer desires that the investment of funds held <br /> under its deferred compensation plan be administered by <br /> the ICMA Retirement Corporation, as Trustee, with the <br /> understanding that such funds will be held by the ICMA <br /> Retirement Trust, a trust established by public <br /> employers for the purpose of representing the interests <br /> of such employers with respect to the collective <br /> investment of funds held under their deferred <br /> compensation plans: <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />Section 2: That the Employer adopts the deferred compensation <br /> plan, attached hereto as Appendix A, and appoints the <br /> ICMA Retirement Corporation to serve as Administrator <br /> thereunder; and <br /> <br />Section 3: That the Employer hereby executes the ICMA <br /> Retirement Trust, attached hereto as Appendix B; and <br /> <br />Section 4: That the Employer hereby adopts the trust <br /> agreement,attached hereto as Appendix C, and appoints <br /> the ICMA Retirement Corporation as Trustee thereunder, <br /> and directs the ICMA Retirement Corporation, as Trustee, <br /> to invest all funds held under the deferred compensation <br /> plan through the ICMA Retirement Trust as soon as is <br /> practicable; and <br /> <br /> <br />