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RESOLUTION NO. 770 (#07 -.201.8)
A RESOLUTION AUTHORIZING THE MAYOR AND . HUMAN RESOURCES
DIRECTOR TO ENTER INTO AN AMENDMENT TD THE CITY'S IRC SECTION
457(6) 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 Pian for employees for several years;
WHEREAS, due to recent changes in federal law and applicable regulations, the
City Council. needs to approve arid authorize Mayor Fletcher and the Human Resources
.Director to execute.an Amendment and all other applicable:documents to update and
modify the current 457(b) Plan's disability claim procedures and regulations 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,. modified. provisions forage qualifications, contribution eligibility changes, a
new designation for the Plan, and replacement designation for additional Pian Trustee.
NOili1V THEREFORE, BE IT RES'OL LIED BY. THE CITY COUNCIL OF THE'
CITY:OFIACKSONV.LLLE, ARKANSAS, THAT•.
SECTION ONE: The Mayor and the Human Resources Director,
together with the City Attorney, are hereby authorized and designated to approve entry
of an Amended IRC Section 457(b) Deferred Compensation Plan with amended
provisions as designated on the attached Amendments. regarding Disability Claims
regulations, which are, incorporated herein and made a part hereof.
SECTION TWO, Any and all other Resolutions in. conflict herewith are
repealed. to the extent of said conflict. This Resolution shall be in effect on and after its
date of passage.
RESOL UTION NO.. 770 (#07 - 2018)
Page TWO
APPROVED AND ADOPTED THIS 19TH DA Y OFAPRIL, 2018.
CITY OF JACKSONVILLE, ARKANSAS
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