1980-35 Establishing A Deferred Compensation Plan.1' ^
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY ESTABLISHING A
DEFERRED COMPENSATION PLAN
and
1 1 ! fl
KODIAK ISLAND BOROUGH
RESOLUTION NO. 80 -35 -R
WHEREAS, Kodiak Island Borough has in its employ certain personnel;
WHEREAS, said employees are and will be rendering valuable services
to Kodiak Island Borough; and
WHEREAS, Kodiak Island Borough has considered the establishment of
a Deferred Compensation Plan for the said employees made available to Kodiak
Island Borough and to said employees by the International City Management
Association Retirement Corporation; and
WHEREAS, said employees often are unable to acquire retirement
security under other existing and available retirement plans due to the contin-
gencies of employment mobility; and
WHEREAS, Kodiak Island Borough receives benefits under said plan by
being able to assure reasonable retirement security to said employees, by being
more able to attract competent personnel to its service, and by increasing its
flexibility in personnel management through elimination of the need for
continued employment for the sole purpose of allowing an employee to qualify
for retirement benefits.
NOW, THEREFORE, BE IT RESOLVED that Kodiak Island Borough establish
said Deferred Compensation Plan for said employees and hereby authorizes its
Mayor to execute the Deferred Compensation Plan with the International City
Management Association Retirement Corporation, attached hereto as Appendix A;
and
IT IS FURTHER RESOLVED that Finance Officer may, on behalf of
I Kodiak Island Borough, execute all Joinder Agreements with said employees and
'other eligible officals and officers, which are necessary for said persons
lli participation in the Plan, an example of which appears at Appendix B, except
b r„r Pd by
that any Joinder Agreement tor said designated official shall - -- --
I lthe Mayor.
ATTEST:
Baroug'�
PASSED AND APPROVED THIS 7th DAY OF August , 1980.
KODIAK ISLAND BOROUGH
By
Boroug Mayo
1 ' •1 ) i I I 2 1
RESOLUTION OF KODIAK ISLAND BOROUGH ESTABLISHING A DEFERRED COMPENSATION
PLAN No. 80 -3S -R
In the Matter of: ESTABLISHING A
DEFERRED COMPENSATION PLAN
I,
Clerk of Kodiak Island Borough, do hereby
certify thf r that Miller at the above - numbered resolution, proposed by James
Peotter , and seconded by David Wakefield
was duly passed and adopted by Kodiak Island Borough A Assembly at a regular
nd
meeting thereof assembled this 7th day of
1980, by the following vote:
AYES: 4
NAYS: 0
ABSENT: 3
(SEAL)
'Resolution No. 80 -35 -R
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Borough Cle