Loading...
HomeMy WebLinkAbout1981-11 Authorizing to Make Available a Deferred Compensation Plan to all Permanent Employees of the Town of Vaili RESOLU'.l'ION r'}`1~ Series o:~ 1981, ) A RESOLUTION AUTIIOILIZING TIITS TOWN COUNCIL OF TIIL 'Pl)WN OF VATL TO A4AiCr AVAILAI3LL A DI;FI;RRI;D COIIIPLNSA~'TON PLAN TO ALL PliFi,;sIANEtv~T EP,~IPLOYEES OF THL TOj'yN OF VATL. WHEREAS, with the passage of the Tax Reform Act of 1.978, Congress established deferred compensation plans for public employees; and WHEREAS, a deferred compensation pl4~n is a valuable fr~a_nge benefit wkzich can be provided to employees at little cost to the public employer; and " WHEREAS, a deferred compensation plan provides employees with an attractive me~i;hod of :investin7 c.~~ saving, far ret;iromen•~ on a before-tax basin; and WHEREAS, a deferred compensation p1E~n provides employees with additional retirement security, sa.nce it is supplemental. to any benefits payable from any other reta.rec:~ent plan; and WHEREAS, a public eir~pioyer, to esty-~}:dish a deferred compensation plan, must first pass a resolution authc~xi~irig such. NOj'u, 7'II:!5k~i;FUi'tii~, $E IT Ri.~SOLVED 1=3I' '~xi~; TO~YN CC)U~VTCIL ()I+~ ~.~'`SiE TOIi'IQ OF VATL, COLORADO, '1'Ii~xT : TI?.ere i.s hereby established a Town cif Vail Defexred Co~s~perzsation Plan, to be placed with a reputable company, active in public and private retirei~er~t plan markets. The Plan hereby establ~.sheci is in accordance with the State of Colorado's lc~;islat~.ve requirements far public deferred compensation plans. TNTRODJCED, READ, APPROVED AND ADO~-•`T;~, of ~ ~ , 1.981. ATTEST G~ Town Clorlc this Z/9t- day r~ Mayor PRO-TEM `'~ ~~'