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File #: 21-513    Version: 1 Name: Amendment to the City of San Leandro 457(b) Deferred Compensation Plan
Type: Resolution - Council Status: Passed
In control: City Council
Meeting Date: 9/7/2021 Final action: 9/7/2021
Enactment date: 9/7/2021 Enactment #: Reso 2021-131
Title: RESOLUTION of the City of San Leandro City Council Authorizing an Amendment and Restatement of the City of San Leandro 457(b) Deferred Compensation Plan to Include the Roth Contribution Option
Sponsors: Susan Hsieh Finance Director

Title

RESOLUTION of the City of San Leandro City Council Authorizing an Amendment and Restatement of the City of San Leandro 457(b) Deferred Compensation Plan to Include the Roth Contribution Option

 

Body

WHEREAS, the City established a Deferred Compensation Plan (“Plan”) in 1983; and

 

WHEREAS, the City desires to amend and restate the Plan to reflect the addition of the Roth Contribution option; and

 

WHEREAS, plan participants may elect to make after-tax contributions into individual retirement accounts. 

 

NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows:

 

That the amendment and restatement of the City of San Leandro 457(b) Deferred Compensation Plan to include the Roth Contribution Option are approved, and the effective date of the amended and restated Plan shall be September 1, 2021.