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<br />I ' <br /> <br />.' <br /> <br />STATE OF HINN1!SOTA <br /> <br />COUNTY OF RAMSEY <br /> <br />CITY OF ARDEN HILLS <br />RESOLUTION NO. 86-65 <br /> <br />RESOLUTION ESTABLISHING A DEFERRED COMPENSATION <br />PLAN FOR FULL TIME EMPLOYEES OF TIlE VILLAGB OF ARDEN HILLS <br /> <br />. <br /> <br />and <br /> <br />WHERBAS, the Villase baa employee. render ins valuable aervicea! <br /> <br />WHEREAS, the establishment of a deferred compensation plan for <br />such employeea will serve the Intereat. oftha Villale by enablins it to <br />provide reaaonable retirement aecurity for it. employ..., by providinl <br />increa.ed flexibility in ita peraonnel manalement ay.tem. and by a.aiatina in <br />the attraction and retention of competent peraonnel; and <br /> <br />WHEREAS, the Villase haa determined that the establiahment of a <br />deferred compensation plan to be administered by the lCHA Retirement <br />Corporation will aerve the above objectiv.., and <br /> <br />WHEREAS, the Villase desires that the investment of funds held. <br />under its deferred compensation plan be administered by the ICHA Retirement <br />Corporation, as Trustee, with the understanding that such funds will be held by <br />the ICHA Retirement Trust, a trust established by publlc employers for the <br />purpo.es of represent ins the intereats of such employer. with respect to the <br />collective inveatment of funda held under their deferred compensation plans, <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the Village adopta the <br />deferred compensation plan, attached hereto as Appendix A, and appoint. the <br />ICHA Retirement Corporation to serve as Administrator thereunder; and <br /> <br />BE IT FURTHER RESOLVED that the Village hereby executes the ICHA <br />Retirement Trust, attached hereto.. Appendix B; and <br /> <br />BE IT FURTHER RESOLVED that the Village hereby adopts the trust <br />agreement, attached hereto as Appendix C, and appoints the ICHA Retirement <br />Corporation as Trustee thereunder, and directs the ICMA Retirement Corporation, <br />as Trustee, to invest all funds held under the deferred compensation plan <br />through the ICHA Retirement Trust aa soon as is practicable; and <br /> <br />. BE IT FURTHER RESOLVED, that the Clerk Administrator shall be the <br />coordinator for this program and shall receive necessary reports, notices, etc. <br />from the IcHA Retirement Corporation es Administrstor, and shall cast, on <br />behalf of the Village, any required votes under the program. Administrative <br />duties to carry out the plan may be assigned to the appropriate departments. <br />Adopted by the Arden Hills Council this 29th day of December, <br /> <br />1986. <br /> <br />1P~~re/~~ <br /> <br />Robert L. Woodburn. Mayor <br /> <br />I <br /> <br />