8535-11 Agreement w/ Deferred Comp Plans reps

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REFERRED TO TAE RULES & ORDINANCES COMMITTEE 11/21/11. RESOLUTION NO. 85 a3~-11 BY: Anderson, Bullock, Juris, Madigan, Nowlin, Powers, Smith. A RESOLUTION to take effect immediately provided it receives the vote of at least five (5) members of Council, or otherwise to take effect at the earliest period allowed by law, author- izing the Director of Human Resources to enter into one or more agreements with representatives of government-employee deferred compensation plans in order to continue to provide a wide az- ray of options for employees participating in such plans. WHEREAS, the Director of Human Resources has expressed a desire to enter into one or more agreements with representatives of government-employee deferred compensation plans, also known as 457 plans (after the tax-code chapter providing for them), in order to continue to provide a wide range of options for employees participating in such plans while minimizing the City's administrative oversight in sponsoring such plans; and WHEREAS, any such new agreement would merely provide for third-party plan represen- tation and for the City's direction of employees' contributions to 457 plans but would not bind the City for any term of years or involve the expenditure of City funds in any way; and WHEREAS, the City already serves as the sponsor of several employee 457 plans, but wishes to maintain flexibility for employees while reducing administrative oversight, making this resolution necessary and appropriate; and WHEREAS, all contracts not specifically excepted by ordinance must be approved by Council pursuant to Section 111.02 of the Codified Ordinances; and WHEREAS, this Council by a vote of at least five (5) of its members determines that this resolution is an emergency measure and that it shall take effect at the eazliest date possible as set forth in Article III, Sections 10 and 13 of the Second Amended Charter of the City of Lakewood and that it is necessary for the immediate preservation of the public property, health, and safety and to provide for the usual daily operation of municipal departments in that the City wishes to enter into one or more 457 plan representation agreements before the start of the 2012 fiscal year; now, therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. From the effective date of this resolution to the one hundred eightieth (180th) day following the effective date, the Director of Human Resources is hereby authorized to enter into one or more agreements with representatives of government-employee deferred compensa- tionplans, also known as 457 plans. r_