Resolution 12632CITY OF ALAMEDA RESOLUTION NO. 12632
APPROVING ADOPTION OF
CALIFORNIA PUBLIC EMPLOYEES
457 DEFERRED COMPENSATION PLAN
WHEREAS, the City of Alameda desires to add to the list
of deferred compensation providers for the benefit of its
employees, and
WHEREAS, the Board of Administration (the Board") of the
California Public Employees' Retirement System ("PERS") has
established the California Public Employees Deferred Compensation
Plan (the "PERS Plan") which may be adopted by a governmental
employer the employees of which are members of PERS; and
WHEREAS, the City of Alameda believes that the PERS Plan
and the investment options available thereunder will provide
valuable benefits to the City's employees; and
WHEREAS, participation in the California Public Employees
Deferred Compensation Plan is voluntary and at employees' cost P)
unless otherwise provided in the employee's Memorandum of
Understanding; and
ri I
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
PERS Plan.
NOW, THEREFORE, BE IT RESOLVED that the City of Alameda
adopts the PERS Plan, at employees' cost, for the benefit of its
employees and authorizes and directs the City Manager to execute
the attached adoption agreement on behalf of the City to provide
State Street with the specific terms and conditions of the City's
participation in the PERS Plan, and to provide State Street with
such information and cooperation as may be needed on an ongoing
basis in the administration of the PERS Plan. A copy of this
resolution, the agreement, and any attachments thereto shall be on
file in the office of the City Clerk.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 18th day of
April ,.1995, by the following vote to wit:
AYES:
Councilmembers Arnerich, DeWitt, Lucas,
Mannix and President Appezzato - 5.
NOES: None.
ABSENT: None,
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 19th day of April , 1995.
Diane Felsch, City Clerk
City of Alameda