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Res89 11093
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Res89 11093
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Last modified
10/11/2019 1:52:04 PM
Creation date
10/11/2019 1:52:01 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Date
7/24/1989
Description
RES 0 L UTI 0 N N O. 11093 ORiGINAL RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF JUL 2 4 ~ AGREEMENT WITH GREAT WESTERN SAVINGS BANK FOR ~ ADMINISTRATION OF A DEFERRED COMPENSATION PLAN FOR THE CITY OF REDWOOD CITY
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<br />'Ibis section shall not serve to affect normal distributions to participants <br />pursuant to the PIAN. <br /> <br />3. DEFERRAlS: 'Ibe minirm.nn participant deferral per pay period shall be not <br />less than $10.00. <br /> <br />AGENCY agrees to: <br /> <br />a. Cause appropriate deductions to be made fram such payroll(s) as may be <br />applicable. <br /> <br />b. Send by check or wire transfer the amount of the total <br />deductions to : <br /> <br />Great Western Bank <br />~ferred Compensation Deparbnent <br />P.o. Box 6350 <br />Northridge, Califomia 91328 <br /> <br />or to such other facility or in such other manner as may be mutually <br />agreed upon between GREAT WESTERN and AGENCY. <br /> <br />c. Provide, in such form as agreed upon by AGENCY and GREAT WESTERN, a <br />deferral listin:J with respect to participant sub-accounts to include <br />not less than the follawin:J: <br /> <br />1. Name of Participant <br /> <br />2. Social Security Number of participant <br /> <br />3. AIoc>unt to be credited to participant's <br />sub-account (s) . <br /> <br />GREAT WESTERN agrees to: <br /> <br />d. Establish a sub-account for each participant. <br /> <br />e. Credit the amounts sent by AGENCY to the sub-account (s) of the various <br />participants and to selected invest::nent vehicles in a<XXlrdance with <br />the latest written instructions on file with GREAT WESTERN. <br /> <br />f. Funds invested in the option described herein as "GWSIA" will accrue <br />interest as of the date of receipt by GREAT WESTERN. <br /> <br />g. Place mutual furrl orders, if awlicable, within three (3) business <br />days of the receipt of both, a deferral listing and check, in <br />a<XXlrdance with the latest written instructions on file with GRFAT <br />WESTERN . <br /> <br />- 2 - <br /> <br />111 093 <br />
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