HomeMy WebLinkAboutResolution_30-14_11/13/2014 RESOLUTION NO. 30-14
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, AMENDING THE GOVERNMENTAL MONEY
PURCHASE PLAN & TRUST ADOPTION AGREEMENT FOR
CERTIFIED POLICE DEPARTMENT EMPLOYEES; PROVIDING FOR
SEVERABILITY; PROVIDING AN EFFECTIVE DATE; AND FOR
OTHER PURPOSES.
WHEREAS, the Village Council of the Village of Tequesta established the 401a
Governmental Money Purchase Plan & Trust Adoption Agreement for certified police
department employees with an effective date of March 1, 2013; and
WHEREAS, the Village Council has reviewed the current contribution provisions and is
seeking to make changes to the contribution amounts for both the employer (Section VI. IA) and
the employee (Section VI. 1B (iii)) in accordance with the terms of the current PBA contract; and
WHEREAS, the Village Council believes that these revisions will be in the best interest
of the Village.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF
THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1 The above recitals are declared to be true and correct and are hereby
incorporated into this Resolution.
Section 2 The Village Council hereby revises the 401a Governmental Money
Purchase Plan & Trust Adoption Agreement for certified police department employees at
Sections VI.lA and VI.113 (iii) by increasing the Village's contribution from 0 -5% to 3 -8 %, and
by increasing the maximum employee pretax contribution to 12 %, all as contained in the ICMA
Retirement Corporation Governmental Money Purchase Plan & Trust Adoption Agreement
attached hereto as Exhibit A.
Section 3 This Resolution shall become effective immediately upon adoption.
The foregoing Resolution was offered by Vice -Mayor Arena who moved its adoption. The
motion was seconded by Council Member Paterno and upon being put to a vote, the vote was as
follows:
For Adoption Against Adoption
Mayor Abby Brennan X
Vice -Mayor Vince Arena X
Council Member Steve Okun X
Council Member Tom Paterno X
Council Member Frank D'Ambra X
The Mayor thereupon declared the Resolution duly passed and adopted this 13 day of November
2014.
MAYOR OF TEQUESTA
Abiga' Brenna
ATTEST: IL
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Village Clerk ° °'�.;Qzoq
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