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<br />e Resolution No. J.lXJS ~ J'" <br /> <br />CITY OF LA PORTE <br />H~SCOUNTY,TEXAS <br /> <br />WHEREAS it is to be determined to be in the City's best interest and its employees to provide a Qualifying <br />Retirement System for all its employees not currently eligible for such a Qualifying Retirement System <br />(','Deferred Compensation FICA Alternative Plan"), thereby meeting the requirements of Section 11332 of the <br />Omnibus Budget Reconciliation Act (OBRA 90) and Section 3l2l(b)(7)(F) of the Internal Revenue Code <br />(IRC); and <br /> <br />WHEREAS the Public Agency Retirement System (PARS) has made such a system available to the City and <br />its eligible employees and qualifies under OBRA 90 Section 11332, IRC Sections 3l2l(b)(7)(F) and 457(b), <br />and meets the meaning of the term "retirement system" as given by Section 2l8(b)(4) of the Federal Social <br />Security Act. <br /> <br />NOW, THEREFORE, BE IT RESOLVED THAT: <br /> <br />1. The City Council hereby adopts the PARS 457 Trust, including the PARS Section 457 FICA <br />Alternative Retirement Plan, effective ~ ~, the Effective Date for the benefit of <br />employees on that date and hired thereafter; and <br /> <br />2. The City Council hereby appoints the Citv Manauer ,or his/her successor or his/her designee as <br />the City's Plan Administrator for the Public Agency Retirement System; and <br /> <br />3. The City's Plan Administrator is hereby authorized to implement the plan(s), execute the PARS <br />legal documents on behalf of the City and to take whatever additional actions are necessary to <br />maintain the City's participation in PARS and to maintain PARS compliance of any relevant <br />regulation issued or as may be issued; therefore, authorizing himlher to take whatever additional <br />actions are required to administer the City's PARS plan(s). <br /> <br />AYES: <br /> <br />q <br /> <br />NOES: 0 <br /> <br />ABSENT: <br /> <br />o <br /> <br />ABSTAIN: 0 <br />