HomeMy WebLinkAboutRESOLUTION NO 14 07 302RESOLUTION NO. 14-07-302
RESOLUTION FOR A LEGISLATIVE BODY RELATING TO A MONEY PURCHASE PLAN
RESOLUTION OF _C_ity;...o_f_M_iit_on...:.,_G_e_or.::.gi_a____________________ (EMPLOYER NAME).
PLAN NUMBER 10-~06~____
WHEREAS, the Employer 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 Employer desires that its money purchase retirement plan be administered by ICMA-RC and that the funds
held in such plan be invested in the VantageTrust, 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 that the Employer hereby establishes or has established a money purchase retirement
plan (the "Plan") in the form of: (Select one)
[lJ The ICMA Retirement Corporation Governmental Money Purchase Plan & Trust, pursuant to the specific provisions
of the Adoption Agreement (executed copy attached hereto).
o The Plan and Trust provided by the Employer (executed copy attached hereto).
The Plan shall be maintained for the exclusive benefit of eligible employees and their beneficiaries; and
BE IT FURTHER RESOLVED that the Employer hereby executes the Declaration ofTrust of Vantage Trust. intending
this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the
Employer, if the assets of the plan are to he invested in the VantageTrusr.
BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as trustee under the Plan and to invest funds held
under the Plan in the VantageTrust; and
BE IT FURTHER resolved that the Eirector of Human_Resources (use title ofofficial, not
name) shall be the coordinator for the Plan; shall receive reports, notices, etc., from the ICMA Retirement Corporation or the
VantageTrust; shall cast, on behalfof the Employer, any required votes under the VantageTrust; may delegate any administrative
duties relating to the Plan to appropriate departments; and
BE IT FURTHER RESOLVED that the Employer hereby authorizes the City Manager (use tide not name) to execute all
necessary agreements with the ICMA Retirement Corporation incidental to the administration of the Plan.
I, Sudie AM Gordon , Clerk of the (City, County. etc.) of the City of Milton, Georgia , do hereby certify that the foregoing
resolution proposed by (Council Member, Trustee, etc.) of the City of Milton, Georgia • was duly passed and adopted
by the (Council, Board, ctc.) of the (City, County, ctc.) of the City of Milton, Georgia at a regular meeting thereof assembled
this 7th day of July , 20 ~,by the following vote:
Clerk of the (City,.c8IHU,. ere,)
Box 96220 • WashingtOll, DC 20090-6220 • 1-800-326-7272