HomeMy WebLinkAboutResolution No. 3121 RESOLUTION NO. 3121
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
AMENDING THE PERSONNEL RULES AND REGULATIONS BY
DESIGNATING AS DEFERRED COMPENSATION ADDITIONAL EMPLOYEE
REMUNERATION PAID BY THE CITY AS EMPLOYEE CONTRIBUTION
TO THE RETIREMENT SYSTEM
THE CITY COUNCIL OF THE CITY OF DOWNEY RESOLVES THAT:
SECTION 1. The following section is hereby added to Part VI of
the Personnel Rules and Regulations:
"SECTION 15. Deferred Compensation.
Commencing May 5, 1975, any portion of the
employee's retirement contribution paid by the City on
behalf of the employee is hereby designated as, and shall
be deferred compensation, subject to all of the restrictions,
limitations and conditions applicable thereto as provided
by law."
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 27th day of May, 1975.
Jos h . DiLoreto, Mayor
ATTEST:
'
ity Clerk
I HEREBY CERTIFY that the foregoing Resolution was adopted at a
regular meeting of the City Council of the City of Downey on the 27th day
of May, 1975, by the following vote:
AYES: 4 Councilmen: Winton, Temple, Scotto, DiLoreto
NOES: 1 Councilmen: Jennings
ABSENT: 0 Councilmen: None
City Clerk