HomeMy WebLinkAbout1988-625-11.16.1988 1 0
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_` RESOLUTION NO. 1988-625
H H
C o RESOLUTION APPROVING REVISED DEFERRED COMPENSATION PLAN
FOR EMPLOYEES OF THE CITY OF WATERLOO, IOWA.
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WHEREAS, the City of Waterloo adopted in October of 1973 a
Deferred Compensation Plan for its employees, and
WHEREAS, this Plan has not been revised since 1973 , and
WHEREAS, there have been major changes in State and Federal
laws that impact Deferred Compensation, and
WHEREAS, the City, as owner of the employee ' s annuity
contract, is responsible for compliance with all Federal and State
statutes , and
WHEREAS, the City of Waterloo has developed revised
guidelines to comply with changes in IRS Tax Laws on Deferred
Compensation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the revised Deferred Compensation
Plan for employees of the City of Waterloo, Iowa, be and is hereby
approved, and the Mayor authorized to execute same in behalf of
the City of Waterloo, Iowa.
PASSED AND ADOPTED this 14th day of November, 1988 .
,�'' Lr
Bernard L. M6Kinley, Ma r
ATTEST:
Larr P urger,, ity Clerk/Auditor
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