REPORT TO DEFERRED COMPENSATION COMMITTEE
SUBJECT
Title
Discussion and Possible Action to Recommend City Council Adoption of a Resolution Renaming Committee and Expand Committee’s Role Based on City’s Adoption of an IRS 401(a) Deferred Compensation Plan
Report
DISCUSSION
Discussion and consideration of committee’s intended role, duties, and functions based on the City’s adoption of IRS 401(a) Deferred Compensation Plan, and the renaming of Committee to clarify its intended expanded role to advise concerning City’s IRS 457(b) and 401(a) Deferred Compensation Plans. Staff will present information to assist Committee in preparing a draft resolution for consideration by City Manager and City Council.
RECOMMENDATION
Staff recommends the Committee recommend to the City Manager that City Council approve a resolution renaming the Committee, clarifying and expanding the committee’s role based on the City’s adoption of IRS 401 (a) Deferred Compensation Plan.