HomeMy WebLinkAbout1995-21 Amending the TOV Deferred Compensation PlanRESOLUTION NO.21
SERIES OF 1995
A RESOLUTION AMENDING THE TOWN OP VAIL
DEFERRED COMPENSATION PLAN.
WHEREAS, the Town of Vail established a deferred compensation pian in April of 1981; and
WHEREAS, on July 1$, 1995 the Town of Vail terminated the ICMA Deferred Compensation
Plan that had been established on December 18, 1984, and decided to cease using Great West for
new con#ributions for the Town of Vail Deferred Compensation Plan and to use new investment
providers far the Town of Vail Deferred Compensation Plan; and
WHEREAS, a review of the Town of Vail Deferred Compensation Plan's plan document
revealed that the definition of eligible employee did not accurately reflect their intent.
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado that:
The Town of Vaii Deferred Compensation Pian be amended by deleting Section 7.02
of the Plan in its entirety and replacing it with the following:
7.02. EMPLOYEE means any person, excluding independen# contractors and
seasonal employees, who performs services far the Employer as a regular full-
time Employee and who receives compensation from the Employer for the
services performed."
INTRODUCED, READ, APPROVED AND ADOPTED this ..,.~ day of ~mc~Pil 1995.
i~f~,11~A/`~a n f1~ ~ { r~-
Marga~t A. Osterfoss, May
ATTEST: ~ E A ~
Q~ /~ //14
Lori Aker, Deputy Town"~'
C:IRESOt.U94.21
ResalutEon No. 21, Series of 1995