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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />conditions which were met with City Council adoption of <br />resolution no. R-79-91 on August 6, 1991; and <br />WHEREAS, the City of Colton wants to assure that its <br />employees who do not participate in CALPERS are not subject <br />to FICA taxes under Code Section 3121(b)(7)(F): <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Colton approve the FICA SUBSTITUTE DEFERRED <br />COMPENSATION PLAN AGREEMENT between Great Western Bank, a <br />Federal Savings Bank, and the City of Colton. This <br />agreement, which provides retirement benefits for employees <br />not covered by CALPERS, is attached as Exhibit "A" and <br />incorporated herein is hereby adopted. <br />BE IT FURTHER RESOLVED by the City Council of the City <br />of Colton that all Eligible Employees shall be Participants <br />in the Plan and shall make employee contributions as required <br />by the agreement. <br />BE IT FURTHER RESOLVED by the City Council of the City <br />of Colton that the City Treasurer and Finance Director <br />approve and execute the plan required to administer the 457 <br />Retirement Plan for employees not covered by CALPERS. <br />BE IT FURTHER RESOLVED by the City Council of the City <br />of Colton that the effective date of this agreement shall be <br />December 21, 1991. <br />