Laserfiche WebLink
AGENDA ITEM #11 .5. <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: September 5, 2006 <br /> Subiect: ICMA Resolution <br /> Report: At the August Council meeting, the City staff <br /> presented a resolution that would allow ICMA Retirement <br /> Corporation to administer a 457 (deferred compensation <br /> `- plan) for the City employees. The Council requested staff <br /> to verify that the employees are interested in working with <br /> this company. At the staff meeting in August, all <br /> employees present indicated they were interested in an <br /> opportunity to work with this company. As previously <br /> indicated that City currently has a 457 plan through ING. If <br /> ICMA is authorized to support the City, staff will not be <br /> required to discontinue using ING, they would be allowed <br /> to use either ING or IMCA, or both. <br /> Council Action Requested: Staff is requesting the <br /> Council to adopt the attached resolution and to allow City <br /> employees to work with ICMA. <br />