CC Resolution 1999-090d_\- RESOLUTION NO.99-90
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA,
CALIFORNIA, AUTHORIZING A SUPPLEMENTARY RETIREMENT PLAN
PROVIDED BY THE PUBLIC AGENCY RETIREMENT SYSTEM
WHEREAS, the City Council has determined that it is in the best interests of the
City of La Quinta City") and its employees to provide a retirement incentive offer to
eligible employees who wish to voluntarily exercise their option to separate from City
service; and
WHEREAS, the City is a member of the Public Employees Retirement System
PERS"), and PERS makes available to City employees substantial retirement benefits;
and
WHEREAS, the City is eligible to be a member of the Public Agency Retirement
System PARS"), and PARS offers a Supplementary Retirement Plan, as a retirement
incentive, to supplement PERS and qualifying under relevant sections of the Internal
Revenue Code.
NOW, THEREFORE, the City Council of La Quinta resolves as follows:
1. The City Council hereby adopts the PARS Trust Trust") effective July
20, 1999 and the PARS Supplementary Retirement Plan Plan").
2. The City Council hereby appoints the City Manager to be the Plan
Administrator for the Plan and Trust, and to implement the Plan.
3. The City Manager is hereby authorized to execute the documents on
behalf of the City and to take whatever additional actions are necessary
to maintain the participation of the City in the Plan and Trust.
PASSED, APPROVED and ADOPTED by the La Quinta City Council at a regular
meeting held on the 20th day of July, 1 999, by the following vote:
AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pena
NOES: None
ABSENT: None
ABSTAIN: None
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d_\-Resolution No. 99-90
Supplemental Retiremeni
Adopted: July 20, 1999
Paga 2
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City of La Quinta, California
ATT ST:
4
AUNDRA L. JUH LA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
DAWN C. HONEYWEL[, City Attorney
City of La Quinta, California
BIB]
08-02-1999-U01
09:39:15AM-U01
ADMIN-U01
CCRES-U02
99-U02
90-U02