HomeMy WebLinkAboutRes2001-139
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CITY OF SEWARD, ALASKA
RESOLUTION 2001-139
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AMENDING THE ICMA-RC DEFERRED COMPENSATION PLAN
AGREEMENT TO PERMIT PARTICIPANT LOANS
WHEREAS, the employees of the City of Seward render a valuable service to the community; and
WHEREAS, the City of Seward has established two deferred compensation plans for employees
which serve the interests of the City by enabling it to provide reasonable retirement security for its
employees, by providing increased flexibility in its personnel management system, and by assisting in the
attraction and retention of competent personnel; and
WHEREAS, the City of Seward has determined that permitting participants in the deferred
compensation plans to obtain loans from the Plans will serve these objectives; and
WHEREAS, the AETNA Plan does not require an amendment to its Plan Agreement to permit
participant loans, but the ICMA-RC Plan does require an amendment to its Plan Agreement to permit
participant loans.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, that:
Section 1. The ICMA-RC Deferred Compensation Plan is modified to authorize plan participants
to obtain loans.
Section 2. This resolution shall take effect immediately upon passage by the City Council.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 22nd day of
October, 200 L
THE CITY OF SEWARD, ALASKA
CQ, /]~~.,
Edgar Blatchford, Mayor
AYES: Blatchford, Brossow, Branson, Calhoon, Clark, Orr, Shafer
NOES: None
ABSENT: None
ABSTAIN: None
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