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CITY OF COLTON <br />AGENDA REPORT <br />FOR THE COUNCIL MEETING OF OCTOBER 7,1997 <br />TO: HONORABLE MAYOR & CITY COUNCIL <br />APPROVAL: LEN WOOD, INTERIM CITY MANAGER (� <br />FROM: GRACIE FERNANDEZ HARMON, PERSONNEL DIRECTOR <br />SUBJECT: REQUEST COUNCIL ADOPT RESOLUTION AMENDING THE PART-TIME, <br />TEMPORARY AND SEASONAL EMPLOYEES (PTS) DEFERRED <br />COMPENSATION PLAN <br />DATE: SEPTEMBER 22,1997 <br />BACKGROUND: ICMA Retirement Corporation (RC) is currently the plan administrator of the City's <br />deferred compensation plan for temporary, part-time employees. RC developed a streamlined deferred <br />compensation plan for part-time, temporary and seasonal employees in an effort to �implify employer <br />administration and reduce employer cost. <br />DISCUSSION/ANALYSIS: RC's streamlined PTS plan will minimize paperwork <br />the use of listing forms. The streamlined plan will also limit the disbursement options fi <br />to lump sum payments upon termination and not require participant signatures for disbu <br />FINANCIAL IMPACT: None. This is an administrative change only. <br />ENVIRONMENTAL IMPACT: None. <br />RECOMMENDATION: That City Council adopt the attached resolution <br />compensation plan. <br />Attachment: Resolution <br />Prepared by: Arleen F. Shieh <br />c:\amfs\word\agenda\pts457plan.doc <br />d busywork with <br />most participants <br />the PTS deferred <br />Item # 5 <br />