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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 />NOW, THEREFORE, BE IT RESOLVED that the City Council of the <br />City of Colton hereby adopts the deferred compensation plan in the <br />form of The ICMA Retirement Corporation Deferred Compensation Plan, <br />attached as Appendix A, effective September 24, 1993. <br />BE IT FURTHER RESOLVED that the City Council of the City of <br />Colton hereby executes the Declaration of Trust of the ICMA <br />Retirement Trust, attached hereto as Appendix B, intending this <br />execution to be operative with respect to any retirement or <br />deferred compensation plan subsequently established by the City of <br />Colton, if the assets of the plan are to be invested in the ICMA <br />Retirement Trust. <br />BE IT FURTHER RESOLVED that the Finance Director shall be the <br />coordinator for this program; shall receive necessary reports, <br />notices, etc. from the ICMA Retirement Corporation or the ICMA <br />Trust; shall cast, on behalf of the City of Colton, any required <br />votes under the ICMA Retirement Trust; Administrative duties to <br />carry out the plan may be assigned to the appropriate departments. <br />BE IT FURTHER RESOLVED by the City Council of the City of <br />Colton that all Eligible Employees shall be Participants in the <br />Plan and shall make employee contributions as required by the <br />agreement. <br />BE IT FURTHER RESOLVED by the City Council of the City of <br />Colton that the City Manager is hereby authorized to execute <br />agreement with ICMA Retirement Corporation required to administer <br />the 457 Retirement Plan for employees not covered by CALPERS. <br />