Resolution 12801CITY OF ALAMEDA RESOLUTION NO. 12801
AUTHORIZING THE IMPLEMENTATION OF THE ICMA
RETIREMENT CORPORATION PROTOTYPE MONEY
PURCHASE PLAN, PURSUANT TO THE SPECIFIC
PROVISIONS OF THE ADOPTION AGREEMENT
WHEREAS, the City of Alameda has employees rendering
valuable services; and
WHEREAS, the establishment of a money purchase retirement
plan benefits employees by providing funds for retirement and funds
for their beneficiaries in the event of death; and
WHEREAS, the City of Alameda desires that its money
purchase retirement plan be administered by the ICMA. Retirement
Corporation and that the funds held under such plan be invested in
the ICMA Retirement Trust, a trust established by public employers
for the collective investment of funds held under their retirement
and deferred compensation plans.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Alameda that the City of Alameda hereby establishes or has
established a money purchaSe retirement plan (the "Plan") in the
form of the ICMA Retirement Corporation Prototype Money Purchase
Plan and Trust, pursuant to the specific provisions of the Adoption
Agreement, a copy which is on file in the Office of the City Clerk.
BE IT FURTHER RESOLVED that the Plan shall be maintained
for the exclusive benefit of eligible employees and their
beneficiaries.
BE IT FURTHER RESOLVED that the City of Alameda hereby
authorizes execution of the Declaration of Trust of the ICMA
Retirement Trust, a copy which is on file in the Office of the City
Clerk, intending this execution to be operative with respect to any
retirement or deferred compensacion plan subsequently established
by the City of Alameda, if the assets of the plan are to be
invested in the ICMA Retirement Trust.
BE IT FURTHER RESOLVED that the City of Alameda hereby
agrees to serve as trustee under the Plan and to invest funds held
under the Plan in the ICMA Retirement Trust.
BE IT FURTHER RESOLVED that the Finance Director shall be
the coordinator for the Plan, shall receive necessary reports,
notices, etc., from the ICMA Retirement Corporation or the ICMA
Retirement Trust; shall cast, on behalf of the City of Alameda, any
required votes under the ICMA Retirement Trust; may delegate any
administrative duties relating to the Plan to appropriate
departments.
BE IT FURTHER RESOLVED that the City of Alameda hereby
authorizes the City Manager to execute all necessary agreements
with the ICMA Retirement Corporation incidental to the
administration of the Plan.
BE IT FURTHER RESOLVED that the City of Alameda hereby
authorizes the City Manager to execute all necessary agreements
with the ICMA Retirement Corporation incidental to the
administration of the Plan.
BE IT FURTHER RESOLVED that said document and agreements
shall be effective as of July 1, 1996.
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 16th
day of July , 1996, by the following vote to wit:
AYES:
NOES:
ABSENT:
Councilmembers Arnerich, DeWitt, Lucas,
Mannix and President Appezzato - 5.
None.
None.
ABSENTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 17th day of July , 1996.
Sandee Rabe, Deputy City Clerk
City of Alameda