Resolution 83-17598 i
RESOLUTION NO. 83-1L759 8
____
A RESOLUTION OF THE CITY OF MIAMI BEACH,
FLORIDA. DESIGNATING THE COPELAND
COMPANIES AS THE ADMINISTRATOR OF THE
CITY OF MIAMI BEACH DEFERRED
COMPENSATION PLAN.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA:
WHEREAS, the City has considered the establishment of a Deferred
Compensation Plan to be made available to all eligible City employees, elected
officials, and independent contractors pursuant to the Federal Legislation
permitting such Plans; under Section 457 of the Internal Revenue Code, and
WHEREAS, certain substantial tax benefits could accrue to
employees, elected officials, and independent contractors participating in said
Deferred Compensation Plans; and
WHEREAS, such benefits will act as incentives to City employees to
voluntarily set aside and invest portions of their current income to meet their
future financial requirements and supplement their City retirement at no cost to
the City; and
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the City
Commission hereby adopts The Copeland Companies Deferred Compensation
Program and its attendant investment options and hereby establishes the City of
Miami Beach Deferred Compensation Plan for the voluntary participation of all
eligible City employees, elected officials, and independent contractors.
The Copeland Companies is hereby authorized to execute for the
City, individual participation agreements with each said employee requesting same,
and to act as the "Administrator" of the plan representing the City, and to execute
such agreements and contracts as are necessary to implement the Program. It is
emplicitly understood that other than the incidental expenses of collecting and
disbursing the employee's deferrals and other minor administrative matters, that
there is to be no cost or contribution by the City to the Program.
PASSED and ADOPTED this 21st day of December , 1983 •
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ORIGINAL149
RESOLUTION NO. 83-17598
(Designating the Copeland Company as the
Administrator of the City of Miami Beach
. w
Deferred Compensation Plan)