HomeMy WebLinkAbout1991-23 457 Deferred Compensation Plan
RESOLUTION 91- ~3
WHEREAS, the City of Ashland, (hereinafter referred to as
the "Employer") desires to attract and retain qualified employees
to the Employer and, as a means thereof, to make available to
eligible employees the benefits of a section 457 Deferred
Compensation Plan (hereinafter referred to as the "Plan"); and
WHEREAS, AETNA has been found to possess the necessary
administrative, enrollment, and servicing capabilities for the
Plan; and
NOW, THEREFORE, BE IT RESOLVED that the Employer does hereby
authorize the implementation of the Plan.
BE IT FURTHER RESOLVED that the Director of Finance, shall
be designated as the official representative of the employer with
regard to the implementation and administration of the Plan. The
Plan Administrator shall be authorized to execute such agreements
and contracts as are necessary to implement and administer the
Plan; and
BE IT FURTHER RESOLVED that AETNA shall be retained by the
Employer as a Contractor under the Deferred Compensation Plan and
AETNA shall educate all eligible employees of the Employer
regarding the Plan and shall enroll and service those eligible
employees who participate in the Plan.
This Resolution was READ and DULY APPROVED at a regular meeting
of the City Council of the City of Ashland on the
eJ..
/1 - day of
June, 1991.
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Nan E. Franklin
City Recorder (4e7i..v4f)
SIGNED AND APPROVED this
ci( 0 r:A
day of
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tf'
, 1991.
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Catherine M. Golden