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TO: Mayor and City Council <br /> <br />FROM: City Administrator <br /> <br />Council New Business <br /> <br />Enclosure (D3-a) Documents regarding Deferred Compensation Program <br />(D3-b) List of names submitted by respective parties re- <br /> garding election judges <br /> (D3-c) Letter from Anoka County dated July 8, 1980 <br /> (D3-d) Memo dated July 1, 1980 from Metro Council <br /> <br />CASE #1: DEFERRED COMPENSATION PROGRAM FOR CITY OF RAMSEY: <br /> <br />Enclosure (D3-a) contains the following documents of the <br />Deferred Compensation program which is offered by the State <br />of Minnesota to elected officials and City employees: <br /> <br />a) Brochure on State Deferred compensation program - The <br />brochure gives you an excellent in-site Cs to how this program <br />works. <br /> <br />b) Enrollment procedures and responsibilities for the <br />Minnesota Public Employees Deferred Compensation Program - <br /> <br />This covers the City's requirement of things to do to belong <br />to the program. <br /> <br />c) Rules and regulations covering the deferred compensation <br />program - This covers the law more indepth as to the working <br />on the program. <br /> <br />City Administrator Comments: This is an outstanding program <br />for the City of Ramsey as it doesn't cost the City any money <br />but it allows its employees and elected officials to invest <br />their money in a tax shelter. The City has no expense other <br />than making a payroll deduction for those employees who desire <br />to belong to it. <br /> <br />I belonged to this program when I was in Worthington (in fact, <br />I was instrumental in getting it started in Worthington) and it <br />is excellent investment program. Consequently, recommend that <br />the City execute the necessary legal documentation that is re- <br />quired so that who desire to join this program may. <br /> <br /> <br />