Resolution 13074CITY OF ALAMEDA RESOLUTION NO. 13074
ADOPTING A DEFERRED COMPENSATION PLAN AND TRUST /CUSTODIAL
DOCUMENT ADMINISTERED BY WASHINGTON MUTUAL BANK
(FORMERLY GREAT WESTERN BANK) FOR ENHANCEMENT OF BENEFITS
TO CITY EMPLOYEES
WHEREAS, Resolution No. 12015, adopted September 18, 1990 established a Deferred
Compensation Plan for the City of Alameda; and
WHEREAS, the City of Alameda (hereinafter "Employer ") has employees currently
participating in a 457 deferred compensation retirement savings plan administered by Washington
Mutual Bank; and
WHEREAS, the Employer wishes to adopt the FundSelect Specimen Plan andc,r
Trust/Custodial Document which includes those statutory revisions made to IRC Section 457 by the
Small Business Job Protection Act of 1996; and
WHEREAS, Washington Mutual Bank/FundSelect Advisers are able to administer the
deferred compensation plan for Employer in accordance with the terms in their respective
agreements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Alameda as
follows:
Section 1. The Employer hereby establishes the deferred compensation plan and adopts the
457 Plan and Trust/Custodial Document.
Section 2. The assets of the Plan shall be held in a Trust/Custodial Fund, with the Employer
or its designated officer appointed as and serving as trust/custodian, for the exclusive benefit of the
Plan participants and their beneficiaries, and the assets shall not be diverted for any other purpose.
The Employer's beneficial ownership of the Plan assets held in Washington Mutual Bank shall be
held for the further exclusive benefit of the Plan participants and the beneficiaries.
Section 3. The Employer or its designated officer is hereby authorized to execute all
necessary agreements with FundSelect Advisers, Inc. and Washington Mutual Bank incidental to the
administration of the Plan, and shall do all things necessary and proper to implement this Resolution.
BE IT FURTHER RESOLVED that this Amended and Restated Plan and Trust/Custodial
Document adopted by the City of Alameda hereby supersedes and replaces any prior plan.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by thc Council of the City of Alameda in regular meeting assembled on
the 15th day of December , 1998, by the following vote to wit:
AYES: Councilmembers Daysog, DeWitt, Johnson, Kerr 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 16th day of December , 1998.
Diane Felsch, City Clerk
City of Alameda