R2002-0090 06-10-02RESOLUTION NO. R2002-90
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO
EXECUTE A CONTRACT WITH ICMA RETIREMENT CORPORATION AS
THE ADMINISTRATOR OF THE CITY'S DEFERRED COMPENSATION
PLAN TO ALLOW BOTH CURRENT AND FORMER EMPLOYEES TO
ROLL ASSETS FROM OTHER ELIGIBLE RETIREMENT PLANS TO THE
INDIVIDUAL'S PLAN ACCOUNTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That certain contract amendment by and between the City of Pearland
and ICMA Retirement, a copy of which is attached hereto as Exhibit "A" and made a part
hereof for all purposes, is hereby authorized and approved.
Section 2. That the City Manager or his designee is hereby authorized to execute
and the City Secretary to attest a contract amendment with ICMA Retirement Corporation.
PASSED, APPROVED and ADOPTED this the ].0 dayof JUNE
A.D., 2002.
TOM REID
MAYOR
ATTEST:
Y/~J NG~~
~' SI~,6RETARY ~/
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
AMENDMENT
This Amendment to the City of Pearland, TX, 457 Plan #304487 ("Plan")
administered by the ICMA Retirement Cmlooration ("RC") is made and entered into
effective dune 10 ,2002.
WHEREAS, City of Pearland, TX ("Employer") has
established the Plans for the benefit of its current and former employees, and the Plan
was established effective November 20, 1997 ;
WHEREAS, RC acts as Administrator for the Plan;
WHEREAS, Section 14.01 of the plan docurnent for the Plan provides that the Plan may
be amended at any time; and
WHEREAS, the Employer desires to amend the Plan to permit both current and former
employees to roll assets from other Eligible Retirement Plans to the individual' s Plan
accounts;
Now, therefore, the Plan is hereby amended as follows:
FIRST
Section 2.16 of the Plan is amended by adding the following ~ts the last sentence of that
section:
For purposes of Sections 6.09 and 6.10 of this Plan, the term "Employee" shall
also include a former employee of the Employer.
SECOND
Section 6.09 of the Plan is amended by deleting the phrase "and become an Employee of
the Employer" from subsection (a)(i).
In all other respects, the Plan is hereby ratified and affirmed.
IN WITNESS WHEREOF, and as evidence of its adoption of this AMENDMENT, the
Employer has caused this document to be executed by its duly authorized officers, this
11 dayof dune ,2002.
Witness~
Print
Employel~/~~~_~
By: _ ·
Print Name: Bi 11 Ei sen
Title: City Manager