HomeMy WebLinkAboutResolution 2001-055 N.C.S. 03/12/20011 Resolution No. 2001-055 N.C.S.
2 of the City of Petaluma, California
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4 APPROVING ADOPTION OF CALIFORNIA PUBLIC EMPLOYEES'
5 DEFERRED COMPENSATION PLAN
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8 WHEREAS, the City of Petaluma desires to establish an additional deferred
9 compensation plan for the benefit of its employees; and
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11 WHEREAS, the Board of Administration (the "Board") of the California Public
12 Employees' Retirement System ("Ca1PERS") has established the California Public Employees'
13 Deferred Compensation Plan (the "Ca1PERS Plan") which may be adopted by a governmental.
14 employer the employees of which are public employees; and
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16 WH-EREAS, the City of Petaluma believes that the CaIPERS Plan and the investment
17 options available thereunder will provide valuable benefits to its employees; and
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19 WHEREAS, the Board has appointed State Street Bank and Trust Company ("State
20 Street") to perform. administrative services under the PERS plan and to act as the Board's agent
21 in all matters relating to the administration of the Ca1PERS Plan;
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23 NOW, THEREF®RE, BE IT RESOLVED, that the City of Petaluma adopts the
24 CaIPERS Plan for the benefit of its employees and authorizes and directs the City Manager to
25 execute the attached adoption agreement on behalf of the City of Petaluma, and to provide State
26 Street with such information and cooperation as maybe needed on an ongoing basis in the
27 administration of the Ca1PERS plan. A copy of this resolution, the agreement, and any
28 attachments shall be on file in the office of the City Clerk.
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36 Under the power and authority confen-ed upon this Council by the Charter of said City.
37 REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Council
38 of the City of Petaluma at a Regular meeting on March 12, 2;pp1 Approved as to
39 by the following vote: form:
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42 City Attorney
43 AYES: O'Brien, Healy, Moynihan, Vice Mayor Cader-Thompson, Mayor Thompson
44 NOES: None
45 ABSENT: Torliatt, Maguire
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47 ATTEST: a-~-~~
48 City CI 'k Ma or
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50 Resolufron No. 2001-055 NCS