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RESOLUTION NO. R-0l-46
A RESOLUTION OF THE CITY OF SEBASTIAN, FLORIDA,
PERTAINING TO PENSIONS, AMENDING THE EXISTING
AGREEMENT WITH THE ICMA RETIREMENT CORPORATION,
PROVIDING FOR AN EXECUTION OF AN LETTER AGREEMENT TO
PROVIDE PAYROLL DEDUCTION INDIVIDUAL RETIREMENT
ACCOUNTS TO EMPLOYEES; PROVIDING FOR REPEAL OF
RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT
HEREWITH; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Sebastian entered into an agreement via Resolution R-00-58 to provide
deferred compensation accounts and a deferred contribution plan for the employees of the City;
and
WHEREAS, the City and ICMA Retirement Corporation desire to offer an additional payroll
deduction vehicle for its employees in the form of Individual Retirement Accounts; and
WHEREAS, this action will require amending the existing agreement with ICMA Retirement
Corporation with a Letter Agreement,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, that:
Section 1. EXECUTION OF LETTER AGREEMENT. The City of Sebastian
hereby authorizes the City Manager to execute the Letter Agreement, setting forth terms and
conditions and amending the existing agreement between ICMA Retirement Corporation and the
City of Sebastian establishing a provision for payroll deductions to Individual Retirement
Accounts.
Section 2. CONFLICT.
are hereby repealed.
All resolutions or parts of resolutions in conflict herewith
Section 3.
June 27, 2001.
EFFECTIVE DATE. This resolution shall retroactively take effect on
The foregoing Resolution was moved for adoption by Councilmember Barczyk
The motion was seconded by Councilmember Hi 11 and, upon being put into a
vote, the vote was as follows:
Mayor Walter Barnes
Vice-Mayor Ben A. Bishop
Councilmember James Hill
Councilmember Joe Barczyk
Councilmember Edward J. Majcher, Jr.
aye
aye
aye
aye
absent
The Mayor thereupon declared this Resolution duly passed and adopted this 27th day of June, 2001
CITY OF SEBASTIAN, FLORIDA
By: W~~ ~~
Walter Barnes, Mayor
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Sally M '0, CMC
Deputy City Clerk