HomeMy WebLinkAboutCC RES 2014-78RESOLUTION NO. 2014- 78
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT,
CALIFORNIA, AMENDING EXISTING DEFINED CONTRIBUTION 457 PLAN
WITH ICMA RETIREMENT CORPORATION TRUST AGREEMENT
WHEREAS, the City of Palm Desert has employees rendering valuable services; and
WHEREAS, the City of Palm Desert first adopted its deferred compensation in 1985
administered by the ICMA Retirement Corporation Employer Plan Number 30-2129; and
WHEREAS, over the years the plan has been amended to reflect changes in Federal
law and the City's benefits structure; and
WHEREAS, the City of Palm Desert will permit loans under the plan as provided in
Article XIII of the Adoption Agreement and in the executed Loan Guidelines Agreement.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Palm Desert,
California approve the attached Loan Guidelines agreement; and
PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert City
Council, held on this 11th day of September, 2014, by the following vote to wit:
AYES: BENSON, HARNIK, SPIEGEL, WEBER, AND TANNER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
VAN G. TANNER, MAYOR
RAELLE r KEEN, C+tY CLERK
CITY OF PALM DESERT, CALIFORNIA