HomeMy WebLinkAbout07-012
DATE SUBMITTED: November 29,2006
BILL # 0 7 - 0 I ;)..
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
..m.....................................................................................
SUBJECT: Ordinance No. ~
amending and restating the City of
Bremerton's 457(b) Deferred Compensation
Plan and dissolving the Deferred
Compensation Committee
Committee Meeting Date:
COUNCIL MEETING Date:
Department:
Presenter:
January 10,2007
January I 7, 2007
City Attorney's Office
and Financial Services
Roger Lubovich and
Carol Conley(' .JL/
473-2345
Phone:
SUMMARY: The City adopted an employee 457(b) Deferred Compensation Plan, which created a
Deferred Compensation Committee to administer the plan. The proposed ordinance amends and
restates the Deferred Compensation Plan in order to update its provisions consistent with the Internal
Revenue Code and Treasury Regulations. Additionally, it dissolves the Deferred Compensation
Committee and allows for City staff to be appointed by the Mayor to administer the amended Plan.
ATTACHMENTS: Proposed ordinance No. If q <<J (0
FISCAL IMPACTS (Include Budgeted Amount):
Al)PROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
FISCAL/BUDGET:
OPERATIONS:
COUNCIL PRESIDENT:
RECOMMENDED MOTION:
I CONSENT AGENDA )8t~
Move to pass Ordinance No. ~ amending and restating the City ofBremerton's 457(b)
Deferred Compensation Plan and dissolving the Deferred Compensation Committee.
COUNCIL ACTION: ~rove 0 Deny 0 Table 0 Continue ONo Action