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Councilmember Beyer introduced the following resolution and moved for its adoption: <br /> RESOLUTION 4/92-06-128 <br /> <br />RESOLUTION ADOPTING THE ICMA RETIREMENT CORPORATION PROTOTYPE <br />MONEY PURCHASE PLAN AND TRUST ADOPTION AGREEMENT #001 <br /> <br /> WHEREAS, the Internal Revenue Service has issued a favorable notification letter accepting the <br />form of the ICMA Retirement Corporation Prototype Money Purchase Plan and Trust; and <br /> <br /> WHEREAS, the Tax Reform Act of 1986 (TRA '86) and the Technical and Miscellaneous <br />Revenue Act of 1988 (TAMRA '88) required several technical changes to all qualified retirement plans <br />with most of these changes becoming operationally effective on January 1, 1989; and <br /> <br /> WHEREAS, ICMA has been operating the City of Ramsey's plan according to the new <br />requirements since January 1, 1989; and <br /> <br /> WHEREAS, the City of Ramsey's required plan amendments are contained in the attached <br />ICMA Retirement Corporation Prototype Money Purchase Plan and Trust Adoption Agreement; and <br /> <br /> WHEREAS, such amendments are for the express purpose of maintaining compliance with <br />applicable federal laws and regulations of the Internal Revenue Service. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the Ramsey City Council hereby affn-ms and adopts the ICMA Retirement Corporation <br /> Prototype Money Purchase Plan and Trust Adoption Agreement #001. <br /> <br />2) That the Ramsey 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 /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Peterson <br />and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Gilbenson <br /> Councilmember Beyer <br /> Councilmember Peterson <br /> Councilmember Hardin <br /> Councilemmber Zimmerman <br /> <br />and the following voted against the same: <br /> <br /> None <br /> <br />and the following abstained: <br /> <br /> None <br /> <br />and the following were absent: <br /> <br /> None <br /> <br />whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 9th <br /> <br /> <br />