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<br />-- <br /> <br />.- <br /> <br />r-" _ <br /> <br />CITY COUnCIL AGEnDA ITEMS <br /> <br />TO: CITY MANAGER <br />Jack Owen <br /> <br />FROM: Richard Hare <br /> <br />DATE: October 28. 1985 <br /> <br />REQUEST FOR CITY COUNCIL AGEND~ ITEM <br /> <br />1. Agenda Date Requested: <br /> <br />NmTPmhE'T" 18 1985 <br /> <br />2. <br /> <br />REPORT; <br /> <br />x <br /> <br />RESOLUTION; <br /> <br />ORDINANCE <br /> <br />3. <br /> <br />PRO~ECT SUMMARX' The provision of a Deferred Compensation Plan for cit) <br />empLoyees. .Th1S Plan will allow voluntary participation into an incon <br />, deferred supplemental retirement plan. Employee contributions are ta} <br />deferred until ,withdrawal or reti~ement. The plan offers guaranteed <br />dividends'ortvariable vield,investments ootions. The plan requires nc <br />emOLover con r10ut1on ana 1S str1ctLY VOLUntary. <br />ACTION REQUIRED: Passage of .attached resolution before ICMA can present <br />plan to employees. <br /> <br />4. <br /> <br />5. <br /> <br />ALTERNATIVE: Non-passage of resolution resulting in the abandonment <br />of this supplemental benefit. <br /> <br />6. <br /> <br />RECOMMENDATION: Passage of the resolution allowing ICMA Retirement <br />,Corp. to present deferred compensation-investment plan to City ,~ <br />employees. This employee benefit requires no City contribution. <br /> <br />1. <br /> <br />EXHIBITS: . ' , 11-11-85 Memorandu~. ICMA Retirement Corp'. Resolution <br />and Appendices A, B, and C. <br /> <br />