Resolution - 9644RESOLUTION NO. 9644
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF WEST COVINA, CALIFORNIA,
AMENDING IN ITS ENTIRERETY, THE
DEFERRED COMPENSATION PLAN
DOCUMENT FOR THE CITY OF WEST
• COVINA, AND DESIGNATING A PLAN
ADMINISTRATOR.
WHEREAS, the City Council of the City of West Covina has
established a deferred compensation plan for the employees of the City of West
Covina in January 1980, by Resolution No. 6037 and amended the same by
Resolution No. 8256 in October 1988, Resolution No. 8479 in March 1990 and
Resolution No. 8925 in February 1993; and
WHEREAS, the Deferred Compensation Plan, as adopted,
complies with the existing Internal Revenue Code and rules and regulations
promulgated thereunder; and
WHEREAS, an amended deferred compensation plan is being
submitted in its entirety in order to qualify as an eligible deferred compensation
plan within the scope of the Internal Revenue Code, Section 457 and to include
changes required or allowed by law, which tailor the deferred compensation plan
for the needs of the City of West Covina.
WHEREAS, the plan provides for the appointment of a plan
administrator.
NOW THEREFORE, BE IT RESOLVED by the City Council of the
City of West Covina as follows:
Section 1. The City of West Covina Deferred Compensation Plan
(Plan) is hereby adopted and approved in its entirety, and as required by the
Plan, notice of the amendments and a copy of the Plan, as required, will be
provided to participants.
Section 2. The Finance Director is hereby appointed as the plan
administrator.
Section 3. The City Clerk shall certify to the adoption of the
resolution and thenceforth and thereafter the same shall be in full force and
effect.
APPROVED AND ADOPTED this 15`h day of December 1998.
ATTEST:
City Clerk Janet Berl—
0
0
City Council and City Manager
Amendment to Deferred Compensation Plan
December 15, 1998
Page 2
I HEREBY CERTIFY that the foregoing Resolution No. 9644 was duly adopted
by the City Council of the City of West Covina at a regular meeting thereof held
on the 15`h day of December, 1998, by the following vote of the Council;
AYES: Herfert, Howard, Touhey, Wong
NOES: None
ABSENT: Melendez
ABSTAIN: None
APPROVED AS TO FORM:
(C'60 t.P OWU
` Eliz eth Martyn
City Attorney
City Clerk Janet Berry