HomeMy WebLinkAboutCC Resolution 11351 (Seperation Incentive Program; PARS)RESOLUTION NO. 11351
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL AUTHORIZING
THE ESTABLISHMENT OF THE SEPARATION INCENTIVE PROGRAM THROUGH THE
PARS TRUST ADMINISTRATOR AND APPOINTING THE CITY MANAGER THE PLAN
ADMINISTRATOR
WHEREAS, the City is a member of the Public Agency Retirement System (PARS) for the purpose of
providing tax qualified retirement benefits; and
WHEREAS, it is to be determined to be in the best interest of the City and its employees to provide a
Separation Incentive Program to eligible employees; and
WHEREAS, the PARS Trust has made available a Separation Incentive Plan supplementing the Marin
County Employees' Retirement System and qualifying under the relevant sections of the Internal Revenue
Code and the California Government Code.
NOW THEREFORE, be it resolved that:
1. The City Council, being a member of the PARS Trust, does hereby adopt the PARS Separation
Incentive Plan, as part of the City's Retirement Program, effective July 7, 2003; and
2. The City Council hereby appoints the City Manager, or his successor or his designee as the
City's Plan Administrator for the Public Agency Retirement System; and
3. The City's PARS Administrator is hereby authorized to execute the PARS legal and
administrative service documents on behalf of the City to implement a PARS supplemental
plan to the Marin County Employees' Retirement System. In addition, if the City's PARS
Administrator finds that the PARS supplemental plan benefit must be limited under Section
415 of Internal Revenue Code, then the Plan Administrator will implement replacement
benefit programs at no additional cost to the City.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael, hereby certify that the foregoing
resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of said
City held on Monday, July 7, 2003 by the following vote, to wit:
AYES: COUNCILMEMBERS: Cohen, Heller, Miller, Phillips & Mayor Boro
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
JEANNE M. LEONCINI, CITY CLERK