HomeMy WebLinkAboutRES-98-5944 (DEFERRED COMP/HARTFORD)1
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and,
RESOLUTION NO. 98-5944
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HERMOSA BEACH, CALIFORNIA, AMENDING AND RESTATING
THE DEFERRED COMPENSATON PLAN WITH HARTFORD
WHEREAS the City of Hermosa Beach (City) has employees rendering valuable services;
WHEREAS the City has established a deferred compensation plan for such employees that
serves the interest of the City by enabling it to provide reasonable retirement security for its
employees, by providing increased flexibility in its personnel management system, and by assisting
in the attraction and retention of competent personnel; and,
WHEREAS the City has determined that the continuance of the deferred compensation
plan will serve these objectives; and,
WHEREAS amendments to the Internal Revenue Code have been enacted that require
changes to the structure to and allow enhancements of the benefits of the deferred compensation
plan.
NOW THEREFORE BE IT RESOLVED that the City hereby adopts the amended and
restated deferred compensation plan document with Hartford as attached.
PASSED, APPROVED, and ADOPTED this 8th day of December, 1998.
PRESIDENT of the City Council and Mayor of the City of Hermosa Beach, California
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
CITY ATTORNEY
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