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Councilmember ' <br /> <br />introduced the following resolution and moved for its adoption: <br /> RESOLUTION #92-06- <br /> <br />RESOLUTI.OI~ ADOPTING THE ICMA RETIREMENT CORPORATION PROTOTYPE <br />MONEY PURCHASE PLAN AND TRUST ADOPTION AGREEMENT #001 <br /> WHER~AS, ithe Internal Revenue Service has issued a favorable notification letter accepting the <br />form of the IC~I-~ Rot~rement Corporanon Prototype Money Purchase Plan and Trust; and <br /> wHER~ASi the Tax R, eform Act of 1986 (TRA '86) and the Technical and Miscellaneous <br />Revenue Act ofi1988 (TAMRA 88) required several technical changes to all qualified retirement plans <br />with most of the~e ch~ges becoming operationally effective on January 1, 1989; and <br /> WHEREAS, ICMA has been operating the City of Ramsey's plan according to the new <br />requirements single January 1, 1989; and <br /> WHEREAS; the City of Ramsey's required plan amendments are contained in the attached <br />ICMA Retirernegt Coyporation Prototype Money Purchase Plan and Trust Adoption Agreement; and <br /> wHERI~.AS* such amendments are for the express purpose of maintaining compliance with <br />applicable fed6r~l laws and regulations of the Internal Revenue Service. <br />NOW THER .E~ oRE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOK~A COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the~Ramsey City Council hereby affirms and adopts the ICMA Retirement Corporation <br /> Prototyp6 MOney Purchase Plan and Trust Adoption Agreement #001. <br /> <br />2) That the ~amgey City Council directs a copy of this six page agreement, also referenced 001-91F, <br /> be attached to!the original and all copies of this resolution. <br />The motion for ~e adoption of the foregoing resolution was duly seconded by Councilmember and upon' vot~ i~eing taken thereon, the following voted in favor thereof: <br /> <br />and the following voted against the same: <br />and the followinl~ abstained: <br /> <br />and the following were absent: <br /> [ <br />whereupon said iesolotion was declared duly passed and adopted by the Ramsey City Council this the 9th <br />day of June, 1992. <br /> <br /> Mayor <br /> <br />ATTEST: <br /> <br />City Administrat~)r <br /> <br /> <br />