Laserfiche WebLink
1/4/99 <br /> 0 R I G i i,I A L <br /> <br /> RESOLUTION NO. 13532 <br /> <br /> RESOLUTION APPROVING AND ADOPTING A DEFERRED <br /> COMPENSATION PLAN AND TRUST DOCUMENT FOR <br /> REDWOOD CITY EMPLOYEES AND DESIGNATING THE <br /> CUSTODIAN/TRUSTEE THEREOF <br /> <br /> WHEREAS, it is determined to be in the best interests of the City of <br />Redwood City ('City") and its employees, and it is the express intent of this <br />Council by this resolution, to adopt a Deferred Compensation Plan and Trust <br />Document which complies with the mandatory trust requirements pursuant to <br />Section 457 of the Internal Revenue Code as amended by the Small Business <br />Job Protection Act of 1996 and the Taxpayer Relief Act of 1997 for the exclusive <br />benefit of employee participants and their beneficiaries; and <br /> <br /> WHEREAS, the Deferred Compensation Plan and Trust Document <br />hereinafter referenced has been developed pursuant to all State and Federal <br />requirements and meets the compliance date of January 1, 1999; <br /> <br /> NOW THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> 1. This Council hereby approves and adopts that certain plan and <br />trust entitled, 'City of Redwood City Deferred Compensation Plan and Trust <br />Document,' dated as of January 1, 1999, a copy of which document is on file in <br />the office of the City Clerk, to which copy reference is hereby made for the full <br />particulars thereof. <br /> <br /> Reso-557 1 <br /> F:~shared~Redwood~Coundl <br /> DES:dJk <br /> 12/11/98 <br /> <br /> <br />