0622 000016
RESOLUTION NO. 622 On - 2009)
A RESOLUTION AUTHORIZING THE MAYOR, CITY COUNCIL MEMBERS, CITY
CLERK, AND HUMAN RESOURCES DIRECTOR TO ENTER INTO AN
AMENDMENT TO THE CITY'S IRC SECTION 457(b) DEFERRED
COMPENSATION PLAN; AND, FOR OTHER PURPOSES.
WHEREAS, Federal law provides that the City of Jacksonville may provide its employees
with an approved IRC Section 457(b) Deferred Compensation Plan. The City Council approved
doing so and has offered such a Plan for its employees for several years;
WHEREAS, due to recent changes in federal law, the City Council needs to approve and
authorize themselves, the Mayor, the City Clerk, and the Human Resources Director to execute
an Amendment and all other applicable documents to update and modify the current 457(b)
Plan so as to better provide for its employees; and,
WHEREAS, the Amendment, as proposed, shall better provide for the administration of
the Plan through the use of new definitions, alternative payment elections, new provisions for
Qualified Domestic Relations Orders (QDRO), new notification provisions, contribution eligibility
changes, new rollover provisions, use of new disaster /hurricane relief provisions, new health
and long term care provisions, and new Roth rollover provisions.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The Council Members, Mayor, City Clerk, and the Human Resources
Director hereby authorize and approve entry of an Amended IRC Section 457(b) Deferred
Compensation Plan (commonly known as a Cafeteria Plan) with amended provisions to include
those on the attached Amendment and Memorandum of Action, which are incorporated herein
and made a part hereof.
SECTION TWO: Any and all other Resolutions in conflict herewith are hereby
repealed to the extent of said conflict. This Resolution shall be in effect from and after its date
of passage.
APPROVED AND ADOPTED THIS rirk DAY OF FEBRUARY, 2009.
CI7YOFJACKSONVILLE, ARKANSAS
VrAIAnn
TOMMYSWAIM MAYOR
ATTEST'
SUSAN 'AVITT, C CLERK
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