HomeMy WebLinkAboutD-1577-02 DEFEATED (Deferred Comp.)Sponsor: Councilor Battreall
ORDINANCE NO. D-1577-02
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF C ~A~ EL,
INDIANA, AMENDING CHAPTER 2, ARTICLE 3, DIVISION II, SECTz~ON 2-56
OF THE CARMEL CITY CODE ~/
WHEREAS, the City of Carmel, Indiana (' City ), offers its employs/s/the opportunity to
save for retirement by participating in a voluntary deferred co.mp,~rfsat!on program, and
encourages such participation by matching certain employee contributi~; and
WHEREAS, it is in the best interest of the City and of
competition among deferred compensation plan vendors, to
of such vendors and to replace, add or delete vendors
to encourage
review the performance
dictate; and
WHEREAS, the Board of Pub
vendor contracts for other employee benefits
ordinance and upon the recommendation
and
approve and amend
the parameters established by
:he Clerk-Treasurer.
NOW, THEREFORE, BE IT
Carmel, Indiana, as follows:
/
Section I: Chapter 2,
City Code bllows:
the Common Council of the City of
Section 2-56(b) and 2-56(h)of the Carmel
"(b) De Plan Authorized. Subject to approval by the Board of
Public Works and Safety, the ,loyer is hereby authorized to establish and administer one or
more deferred compensation employees, as provided in this Section or pursuant
to I.C. 5-10-1.1-7. Such d/eferred compensation plans may be amended from time to time after
proposed amendments ar/e~approved by the Board of Public Works and Safety. An am,endment to
an existing plan or the( adoption of. a new pl.an shall not invalidate any .employees pre,,vious
deferral of compens~on and/or any income attributable to the amounts previously deferred.
/
Section/2~56(h) is deleted in its entirety.
/
Se~,t~on II. All prior ordinances or parts thereof inconsistent with any provision of this
Ordinal,06 are hereby repealed as of the effective date of this Ordinance.
J Section III. This Ordinance shall be in full force and effect from and after its passage
~d signing by the Mayor.
// PASSED by the Common Council of the City of Carmel, Indiana, this lq day of__
~~, 2002, by a vote of ,~, ayes and D' nays.
COMMON COUI~ CIL FOR THE CITY OF CARMEL, INDIANA
~ j,~v,~.~,,//~residing Officer Q~~~mp ore
l~obert Battreal~- - /R~nald E. Ca~-er
Kevin Kirby
N. L. Runc~le
John R. Koven
Luci Snyder
D'~. ray, lAME, C~er~- I rear
Presented by me to the Mayor of the City of Carmel, Indiana, on the __
,2002, at .M.
day of __
~ /{ 14 Diana L. Cordray, IAMC, Clerk-T[~ ~,
Approv: 2d0b0Y2,m;, ~~4_ana' this ~-~ a~ ° f/~ ~/~
J~es Bra~nard, Mayor ~
ATTEST:
Diana L. Cordray, IAMC, Clerk-Treasurer
Prepared By: Barbara A. Lamb
Director of Human Resources
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