Resolution 94-768cne clay nas < siaerea cne e aablianment of a
Deferred Compensation Plan to beomatle a ailabl es [ all eligible
City employees, elected officials, and vindependent c ctors
pursuant to eetleral legislation permitting sucR Plans; and a
substantial tax bene Ei is could a
employee ele ceder oftE ic.i its, and indepen ent ntractors
parti<ipaei ng to said Deferred Compensation Plans; ana
uch benefits will a ity
employees EC voluntarily s sitle and ctnvestn portti ons tof Cthe
their future financial regniremen[s and
suppleme nt cothei ro City and Soc.i al Se<u ri ty (tf
applicable, at no cost torthe Cm tyt antl
r prototype deferretl ompensatlon program (PEPSCO) for
ittes and political subtlivisions peimitti ng i ember c antl
their employees to enjoy the advantages o£ thts program; tantls
EAS, TRe Conference of Mayors, Plan
Atlministiat orR agrees to holtlSharmless and indemnity t e Ctty, its
appointed and elected officers antl participating employees from any
loss r sul ti ng from TRe U. 5. Conference of Mayors or tts Agents
f ailuz o perform i s tlu[ies and se [vices pursuant to TRe u. 5.
Conference of Mayors iProgram.
mayors Deferretl Compensation Pzogiam (PEPSCO) a
investment options antl hereby e tab ltshed then Citys of Longwood
Deferred Compensation Plan for [he voluntary participation of all
eligible Ct ty employees, elec[etl oEticia is antl independent
The Ci[y Atlminis trator is hereby aut horizetl t
for the City, intlivitlual partlcipa ti on agreements wttR eachXes ald
employee requesting same, and to act as the "Administrator" of the
contracts as are necessary to implement the Program
Resolution No. 94->6H
implicitly untlerstootl that other than the incidental enpenses of
collecting and tlis horsing the employee's deferrals and other m
administrative matters, that there is to be no cost to the Cityrfor
the Program. / /'~
PASSED AND ADOPTED THIS / Yh DAY OF ~ , 19 '"1~ .
1~6y: ~~~ ..0
Mayor, City of Longwood, Floritla
Ct[y Clerk, City of Lor.g-wood, Floritla
Approved a o form and legal 'ty for the use and ielia nce of the
City of Longwood, Floritla only.
~ard~ 'a ylor ., City Attorney