HomeMy WebLinkAbout038-92 RESOLUTION NO. 38-92
APPROVING AN AMENDMENT TO THE TOWN OF DANVILLE 401(A) MONEY
PURCHASE PENSION PLAN
WHEREAS, Town employees participate in a 457 deferred compensation plan and a 401(a)
qualified money purchase plan; and
WHEREAS, the Town's share of pension contributions are distributed between the 457
and the 401(a); and
WHEREAS, pension accounting and administration would be simplified if the Town's
entire contribution was placed in the 401(a) and only the employee contribution was
placed in the 457; now, therefore
BE IT RESOLVED, by the Town Council of the Town of Danville, that the Financial
Services Manager is hereby authorized to execute an agreement with Lincoln National, the
pension plan administrator, amending the Town's 401(a) Money Purchase Pension plan
to accept the entire employer contribution.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
Tuesday, March 17, 1992, by the following vote:
AYES: LANE, SHIMANSKY, GREENBERG, RITCHEY, DOYLE
NOES: NONE
NONE
ABSTAINED:
ABSENT: NONE
APPROVED AS TO FORM:
ATTEST:
CITY CLERK