Agenda - Council - 03/25/1986 - Laserfiche WebLink

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I I I I I ! ! I I I I I I I I I I I Counc~ lm~mbe r its adoption: introduced the following resolution and moved for RESC].,UTIO~ 186- RESG[/]TIO~ ~O ES~]%BLISH A MONEY FJR(l%%SE RETIRF~T 1~ WHEREAS, the f~nployer has e~ployees rendering valuable services; and WHEREAS, the establishment of a Money Purchase Plan will benefit employees by providing funds for retirement and funds for their beneficiaries in the event of death; and WHEREAS, the establishment of a Money Purchase Plan will assist the Employer to attract and retain qualified personnel; and WHEREAS, the Employer desires that its Money Purchase Plan be administered by the ICMA Retirement Corporation; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL, CITY OF RAMSEY, ANOKA O~NTY, S~%~ OF MINNESO~, as follows: 1) ~hat the ~pployer establishes a Money Purchase Plan in the form of the ICMA Retirement Corporation Prototype Money Purchase Plan and Trust, pursuant to the specific provisions of the executed Adoption Agreement. 2) ~e Plan and the Trust forming a p~rt hereof are established and shall be maintained for the exclusive benefit of eligible employees and their beneficiaries. ~he motion for the adoption of the foregoing resolution was duly seconded by Councilm~r and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following were absent: and the following abstained: whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 25th day of March, 1986.