HomeMy WebLinkAboutRES 1984-031 RESOLUTION NO. 84-31
A RESOLUTION ESTABLISHING A QUALI-
FIED 401 (k) SUPPLEMENTAL RETIREMENT
PLAN FOR THE EMPLOYEES OF THE CITY
OF GRAPEVINE, TEXAS; AUTHORIZING
THE EXECUTION OF A CONTRACT AND ALL
,,,�, APPLICABLE DOCUMENTS; AND PROVIDING
AN EFFECTIVE DATE
�'"' WHEREAS, the City of Grapevine, Texas desires to adopt a
Qualified 401 (k) Plan to supplement retirement benefits for City
employees; and,
WHEREAS, it is necessary to contract with an administrator
to assist in establishing and administering the Qualified 401 (k)
Plan; and,
WHEREAS, it is in the best interest of the City of Grape-
vine and its employees to implement this addition in benefits.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVZNE, TEXAS:
Section 1. That the City Manager is hereby authorized to
establish a Qualified 401 (k) Plan to supplement retirement bene-
fits for City employees.
Section 2. That the City Manager is hereby authorized to
�°°m execute a contract with PUBLIC EMPLOYEES BENEFIT SERVICES
CORPORATION, through its State Directors, Billy Hulett, and
Barry A. Mainardi, to establish and administer the Qualified
401 (k) Plan.
Section 3. That the City Manager or his designee are
authorized to execute all documents and filings necessary to
establish a Qualified 401 (k) Plan and to implement this resolu-
tion.
Section 4 . That this resolution shall take effect
immediately from and after its passage in accordance with the
provisions of the Charter of the City of Grapevine, and it is
accordingly so resolved.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 3rd day of July, 1984.
APPROVED:
„�, � .
Mayor
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ATTEST:
Ci y Secretar
APPROVED AS TO FORM:
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City Attorney
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