R-94-09RESOLUTION R -94 -09
WHEREAS, the Village of Deerfield, Illinois, has in its employ
certain personnel; and
WHEREAS, said employees are and will be rendering valuable
services to the Village of Deerfield; and
WHEREAS, the Village previously adopted Resolution R -75 -30
establishing a Deferred Compensation Plan for the said employees made
available to the Village and to said employees by the International
City Management Association Retirement Corporation; and
WHEREAS, said employees often are unable to acquire retirement
security under other existing and available retirement plans due to
the contingencies of employment mobility; and
WHEREAS, the Village receives benefits under said plans by being
able to assure reasonable retirement security to said employees, by
being more able to attract competent personnel to its service, and by
increasing its flexibility in personnel management through elimination
of the need for continued employment for the,sole purpose of allowing
an employee to qualify for retirement benefits;.and
WHEREAS, the Village recognizes that the above - mentioned goals
will be better served by providing Village employees a choice of
Deferred Compensation Plans to serve their individual needs;
NOW, THEREFORE, BE IT RESOLVED that the Village of Deerfield
amend Resolution 75 -30, adopted April 21, 1975 and hereby authorize
the Village Director of Finance to serve as coordinator of the
Deferred Compensation Plan and to make available to Village Employees
from time to time such Deferred Compensation Plans as serve the goals
and purposes of this Resolution.
. IT IS FURTHER RESOLVED that the Mayor may, on behalf of the
Village, execute all documents with said employees and other eligible
officials and officers, which are necessary to said persons,
participation in any such plan.
AYES: Ehlers, Heuberger, Rosenthal, Seidman, Swanson, Swartz (6)
NAYS: None (0)
ABSENT: None (0)
PASSED this 7th day of September A.D. 1994
APPROVED this 7th day of SeptembAX A.D. 1994'
Village PIresident
ATTEST:
Village Clerk