Res 2012- 34 Amend Provisions of ICMA-RC 457 Deferred Comp PlanCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2012 -34
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENDOTA HEIGHTS
AMENDING PROVISIONS OF THE ICMA -RC 457 DEFERRED COMPENSATION
PLAN TO ADD ROTH PROVISIONS
PLAN NO. 301617
WHEREAS, the City of Mendota Heights has employees rendering valuable services; and
WHEREAS, the City of Mendota Heights has established a deferred compensation plan for
such employees that serves the interest of the City by enabling it to provide reasonable retirement
security for its employees, by providing increased flexibility in its personnel management system,
and by assisting in the attraction and retention of competent personnel; and
WHEREAS, the City of Mendota Heights has determined that the continuance of the
deferred compensation plan will serve these objectives; and
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Mendota
Heights (Employer) hereby amends and restates the deferred compensation plan (the Plan) in the
form of. The ICMA Retirement Corporation 457 Governmental Deferred Compensation Plan &
Trust, to include the associated Roth Amendment.
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the
City of Mendota Heights serving as trustee (Trustee), for the exclusive benefit of the Plan
participants and their beneficiaries, and the assets shall not be diverted to any other purpose. The
Trustee's beneficial ownership of the Plan assets held in VantageTrust shall be held for the further
exclusive benefit of the Plan participants and their beneficiaries;
BE IT FURTHER RESOLVED that the City of Mendota Heights hereby agrees to serve as
Trustee under the Plan.
Adopted by the City Council of the City of Mendota Heights this first day of May 2012.
CITY COUNCIL
CITY OF M ROTA HEIGHTS
an" ra Krebsbach, yor
ATTEST
- Justin Miller, Acting City Clerk