HomeMy WebLinkAboutresolution.council.087-93 (Series of 1993)
RESOLUTION ESTaBLISHiNG ~TERNATIVE RETIREMENT PROGi~S FOR CITY
OF ASPEN EMPLOYEES...
WHEREAS, the City of Aspen has employees rendering valuable
services; and
WHEREAS, the City of Aspen desires to establish alternative
retirement programs pursuant to the provisions of Sections 401(a)
and 457 of the Internal Revenue Code; and
WHEREAS, the City of Aspen intends to provide reasonable retirement
security for its employees; and
WHEREAS, the city of Aspen has decided to utilize investment
products offered by nationwide Life Insurance Company for this
retirement plan; and
NOW, THEREFORE, BE IT RESOLVED that the city of Aspen adopts the
Nationwide Life Insurance Company Money Purchase Plan & Trust and
United States Conference of Mayors Deferred Compensation programs,
and appoints Public Employees Benefit Services Corporation (PEBSCO)
to provide record keeping, employee education and other technical
and administrative services related to the plan; and
BE IT FURTHER RESOLVED that the City of Aspen hereby authorizes and
directs the Personnel Director to perform all acts and sign all
documents necessary to put said plan into operation; and
BE IT FURTHER RESOLVED that the Personnel Director is hereby
appointed as Trustee and upon acceptance, by executing the Adoption
Agreement of said plan, shall receive the necessary reports,
notices, etc. from PEBSCO and Nationwide Life Insurance Company°
INTRODUCED, READ AND ADOPTED)bv the city Council of the city of
Aspen on the /~ day of X~-~ ~~~_~
- ACt Reno ~,~Mayor Pro Tem
I, Kathryn S. Koch, duly appointed and acting city Clerk
do hereby certify that the foregoing is a true and accurate copy
of that resolution adopted by the city Council of the City
of Aspen, Colorado, at a meeting held ~~~ /'~ /~