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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 />RESOLUTION NO. R-3-88 <br />A RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF COLTON ESTABLISHING A <br />DEFERRED COMPENSATION PROGRAM AND <br />DESIGNATING THE ICMA RETIREMENT <br />CORPORATION AS AN ALTERNATIVE PLAN <br />ADMINISTRATOR <br />WHEREAS, the City of Colton has employees rendering <br />valuable services; and <br />WHEREAS, the City has determined that the establishment <br />of a deferred compensation plan for such employees will serve the <br />interests of the City by enabling it to provide reasonable <br />retirement security for its employees, by providing increased <br />flexibility in its personnel management system, and by assisting <br />in the attraction and retention of competent personnel; and <br />WHEREAS, the City has determined that the establishment: <br />a deferred compensation plan to be administered by ICMA <br />irement Corporation will serve the above objectives; and <br />WHEREAS, the City desires to add the ICMA Retirement <br />ation, as an alternative administrator of the investment <br />funds held under its deferred compensation plan, with the <br />tanding that such funds will be held by the ICMA Retirement <br />t, a trust established by public employers for the purpose <br />representing the interests of such employers with respect <br />23 to the collective investment of funds held under their deferred <br />24 compensation plans: <br />25 11 NOW, THEREFORE, BE IT RESOLVED that the City of Colton <br />26 �dopts the deferred compensation plan, attached hereto as <br />27 ppendix A, and appoints the ICMA Retirement Corporation to serve <br />2810s an Administrator thereunder; and <br />