HomeMy WebLinkAboutCity Council Resolution 873.1 RESOLUTION N0. 873ol
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SARATOGA, CALIFOP~IA
REVISING THE EXISTING CITY OF SARA'fOGA
E~{PLOYEE'S DEFERP~D COMPENSATION PLAN
WHEREAS, the City of Saratoga desires to revise its current
Employees Deferred Compensation Plan in order to reflect past plan
operation and to bring it into conformity with current legislation
(26USC Section 457of the Internal Revenue Service Code); and
WHEREAS, such revisions have been reviewed and approved by the
City of Saratoga Deferred Compensation Plan Advisory Committee and
the Plan Administrator, National Plan Coordinators; and
WHEREAS, such revisions have been included in the City of Saratoga
Employees Deferred Compensation Plan, as per amendment #1, with the
intent that this plan shall supercede the previously existing City of
Saratoga Deferred Compensation Plan;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Saratoga, California that the City .of Saratoga Employees Deferred
Compensation Plan, as amended (#1) shall be the effective plan
until such time as it may be necessary to amend, modify, or terminate
said plan.
The above and foregoing resolution was duly and regularly
introduced and passed by the City Council of the City of Saratoga on
the 5th day of ~a'rch , 1980, by the following vote:
AYES: Councilmembers Callon, Corr, Kraus, ~tteoni
NOES: None /
ABSENT: None