HomeMy WebLinkAbout99-43RESOLUTION NO. 99-43
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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UKIAH
APPROVING ADOPTION OF CALIFORNIA PUBLIC EMPLOYEES'
DEFERRED COMPENSATION PLAN
WHEREAS, the City of Ukiah desires to establish an additional deferred compensation plan
for the benefit of its employees; and
WHEREAS, the Board of Administration (the "Board") of the California Public Employees'
Retirement System ("CalPERS") has established the California Public Employees Deferred
Compensation Plan (the "CalPERS Plan") which may be adopted by a governmental employer the
employees of which are members of CalPERS; and
WHEREAS, the City of Ukiah believes that the CalPERS Plan and the investment options
available thereunder will provide valuable benefits to its employees; and
WHEREAS, the Board has appointed State Street Bank and Trust Company and State Street
Bank and Trust Company of California, N.A. (collectively, "State Street") to perform administrative
services under the PERS Plan and to act as the Board's agent in all matters relating to the
administration of the CalPERS Plan;
NOW, THEREFORE, BE IT RESOLVED that the City of Ukiah adopts the CalPERS Plan for
the benefit of its employees and authorizes and directs the City Manager to execute the attached
adoption agreement on behalf of the City of Ukiah, to provide State Street with the specific terms
and conditions of the City of Ukiah's participation in the CalPERS Plan, and to provide State Street
with such information and cooperation as may be needed on an ongoing basis in the administration
of the CalPERS Plan. A copy of this resolution, the agreement, and any attachments thereto shall
be on file in the Personnel office.
PASSED AND ADOPTED this 2nd day of June, 1999, by the following roll call vote:
AYES:
NOES: None
ABSENT: None
ABSTAIN: None
Councilmembers Smith, Libby, Baldwin, Ashiku and Mayor Mastin
Marie Ulvila, City Clerk
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