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<br />, <br />/ <br /> <br />MEMO <br /> <br />DATE: September 26,2001 <br /> <br />TO: <br /> <br />Honorable Mayor and Council Members <br /> <br />FROM: Mary Capra <br /> <br />RE: <br /> <br />Budget/Deferred CompensationlUnion Contract <br /> <br />I am requesting this item be added to the agenda this evening for discussion on the city's current <br />deferred compensation program. Our deferred compensation is tied to the Union Contract therefore <br />the union contract should also be added to the agenda. <br /> <br />Within reading the LMC Guidelines for Preparing City Budget 2002 I have discovered the program <br />under which our deferred compensation program is managed by (PEBSCO) may need to be changed <br />in order to meet the state guidelines regulating deferred compensation. <br /> <br />I would like to start discussion on this issue but understand further research needs to be done <br />regarding this benefit to our staff I personally believe we need to clarify this prior to fllalizing the <br />2002 budget. <br /> <br />Attached you will find the following information regarding this matter. <br /> <br />City Council Minutes August 28, 1996 <br />July 12, 1996 Draft Letter from union Article XX Insurance <br />Labor Agreement January 1, 1997 - December 31, 1998 Appendix B Insurance. <br />Labor Agreement January 1, 1999 - December 31, 2000 Appendix B Insurance: <br />Labor Agreement January 1, 2001 - December 31, 2003 Appendix B Insurance. <br />LMC Guidelines for Preparing City Budget 2002 page 46 d. Deferred compensation. <br />Minnesota Statutes 356.24 Supplemental pension or deferred compensation plans, <br />restrictions upon government units. <br />Minnesota Statutes 352.96 Deferred compensation. <br />