2001-183RESOLUTi'ON NO. 2001 - 183
ICMA TRUST ACCOUNT NUMBER: 7861
A Resolution author/zing the creaB'on, maintenance and funding o£ a money purchase retirement plan and
trust.
RESOLUTZON OF THE COMMON COUNCTL OF THE CI'TY OF 3ANESVZLLE, WT
WHEREAS, the City of 3anesville is a Wisconsin Municipal Corporation conducting is principal business at
18 North ]ack, son Street, City of ]anesville, County of Rock, State of Wisconsin, 53545 (hereinafter "Employer'g;
and
WHEREAS, the Employer has one or more employee(s) rendering valuable services to the Employer; and
WHEREAS, the establishment of a money purchase retirement plan benefits employees by providing
funds for retirement and funds for their beneficiaries in the event of death; and
WHEREAS, the .lanesville Common Council as the Employer find it beneficial, appropriate and desirable to
establish, create and maintain such a plan in and for the year 2001 and all subsequent years in accord with
applicable Federal and State tax and retirements laws, rules and regulations; and
WHEREAS, the Employer desires that the City of .lanesville's money purchase retirement plan be
administered by the 1CMA Retirement Corporation and that the funds held under such plan be invested in the
].CMA Retirement Trust, a trust established by public employers for the collective investment of funds held under
their retirement and deferred compensation plans:
NOW~ THEREFORE, BE ZT RESOLVED by the Common Council of the City of ]anesville that the
Employer hereby forthwith establishes or has established a money purchase retirement plan (the "Plan'~ in the
form of: the ]'CMA Retirement Corporation Governmental Money Purchase Plan & Trust, pursuant to the
provisions of the Adoption Agreement (].CMA executed copy attached hereto). The Plan shall be maintained for
the exclusive benefit of eligible employees and their beneficiaries; and
BE IT FURTHER RESOLVED that the City Administration execute and enter into said Plan on behalf of the
City of .lanesville ("Employer'~ and be funded for 2001; and
BE IT FURTHER RESOLVED that authorized representative(s) of the Employer, including, but not limited
to, the Human Resources Director, hereby execute(s) the Declaration of Trust of the [CNA Retirement Trust,
attached hereto, intending this execution to be operative with respect to any retirement or deferred
compensation plan subsequently established by the Employer, if the assets of the plan are to be invested in the
].CMA Retirement Trust; and
BE IT FURTHER RESOLVED that the Employer hereby agrees to serve as trustee under the Plan and to
invest funds held under the Plan in the ].CMA Retirement Trust in accord with Common Council authorization; and
BE TD FURTHER RESOLVED that the Human Resources Director shall be the coordinator for the Plan; shall
receive reports, notices, etc., from the ].CMA Retirement Corporation or the ].CMA Retirement Trust; shall cast, on
behalf of the Employer, any required votes under the ICMA Retirement Trust; may delegate any administrative
duUes relating to the Plan to appropriate departments; and is authorized to execute all necessary agreements
with the ].CMA Retirement Corporation incidental to the administration of the Plan; and
BE IT FURTHER RESOLVED that the Human Resources Director and/or her designee(s), on behalf of the
City of .~anesville ("Employer'% is/are hereby authorized and empowered to negotiate, draft, modify, review,
1
execute, and enter into additional agreements, record, file and/or make modifications and/or amendments to any
and all documents, papers, forms and agreements, and to take whatever other actions as the Human Resources
Director may determine, from time to time and at any time, necessary and/or desirable to effectuate the intent of
this Resolution and/or Plan.
ADOPTED: August 13, 2001
APPROV~I~ f)/
Steven E. Sheiffer, City Manager
ATTEST:
.]e,~KAnn Wulf, City Clerk-Treasurer
APPROVED AS TO FORM; ~
City At't~rney ~ f '
Proposed by:
Prepared by:
Attorney
Human Resources Director
ICMA Trust, Human Resources Director, and City
MOTION BY: O' Leary
SECOND BY: Damr on
COUNCILMEMBER AYE NAY PASS ABSENT
DAMRON X
WILLIAMS X
O'LEARY X
DeGARMO X
BRIEN X
MURPHY X
STEEBER X I
Resolutions/401 Money Purchase Plan (7 2001) CA Revised
2