HomeMy WebLinkAboutRESOLUTION NO 14 07 303RESOLUTION NO. 14-07-303
RESOLUTION FOR A LEGISLATIVE BODY RELATING TO A MONEY PURCHASE PLAN
RESOLUTION OF ...;.C_ity!o.0_f_M_lIt_0..,.:n._G_e_or-=.9i_a_____________________ (EMPLOYER NAME).
PLAN NUMBER 10-802~__
WHEREAS. the Employer has employees rendering valuable services; and
WHEREAS. the establishment ofa money purchase retirement plan benefits employees by providing funds for retirement and
funds for their beneficiaries in the event ofdeath; 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)
I2J The ICMA Retirement Corporation Governmental Money Purchase Plan & Trust, pursuant to the specific provisions
ofthe 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 ofVantageTrust, intending
this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the
Employer, if the assets of [he plan are to be invested in the VantageTrust.
BE IT FURTHER RESOLVED that the Employer hereby agrees [0 serve as trustee under the Plan and to invest funds held
under the Plan in the VantageTrust; and
BE IT FURTHER resolved that the _D_ir_ect_o_r_o_f_H_um_an_R_e_so_u_r_ce_s_____________ (use tide ofofficial, not
name) shall be the coordinator for the Plan; shall receive reports, notices. etc., from the lCMA Retirement Corporation or the
VantageTrust; shall cast, on behalf ofthe 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 tirle 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 Ihe 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. etc.) of the (City, County. etc.) of the City of Milton. Georgia at a regular meeting thereofassembled
this 7th day of July , 20 ~,by the following vote:
AYES: 5GYUl L1')
NAYS:
96220 • Washington, DC 20090-6220· 1-800-326-7272