HomeMy WebLinkAboutD-1593-02 Deferred Comp VendorsSponsors: Councilor Rundle
ORDINANCE NO. D-1593-02
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, AMENDING CHAPTER 2, ARTICLE 3, DIVISION II, SECTION 2-56
OF THE CARMEL CITY CODE
WHEREAS, the City of Carmel, Indiana ("City"), offers its employees the opportunity to
save for retirement by participating in a voluntary deferred compensation program, and
encourages such participation by matching certain employee contributions; and
WHEREAS, it is in the best interest of the City and of plan participants to encourage
competition among deferred compensation plan vendors, to periodically review the performance
of such vendors and to replace, add or delete vendors as changing circumstances dictate.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Carmel, Indiana, as follows:
Section I: Chapter 2, Article 3, Division II, Section 2-56(h)of the Carmel City Code are
hereby amended to read as follows:
"(h) Plan Approval. The Common Council approves the following plans for the City of
Carmel Deferred Compensation Program. Plan documents shall be kept on file in the office of
the Clerk-Treasurer.
(1) United States Conference of Mayors (with Nationwide Retirement
Solutions as Plan Administrator)
(a) elective plan for all City employees, dated March 19, 1990
(b) non-elective plan for sworn police officers, dated December 17, 1990
(2) Lincoln National Life Insurance Company, dated May 15, 1988
(3) VALIC
(4) lNG"
Section II. All prior ordinances or parts thereof inconsistent with any provision of this
Ordinance are hereby repealed as of the effective date of this Ordinance.
Section III. This Ordinance shall be in full force and effect from and after its passage
and signing by the Mayor.
PASSED by the Common Coun.cil of the City of Carmel, Indiana, this///~q~day of __
2002, by a vote of O ayes and {") nays.
COMMON COUNCILflOR THE CITY OF CARMEL~.]~qD~t~IA
P~si4ingOfficer ( \ . _ ~m
Wayne A. W~son, ~esident Pro Tempore
~)ttr~---~ N.L. Rundle
~onald E. C~er Luci Snyder
ATTEST:
-Diana L. C;rdr~y,klMvlC Cle~-Wreasurer
Presentedby me to the Mayor of the City of Carmel, Indiana, on / day __
the
of
,2002, at ~: {Ch t.$..M.
Diana L. Cordra~, ~iC, Cle~-Tre/tsurer' (-/
Approved by me, the Mayor of the City of Carmel, Indiana, this/~'~d~y of ,2002, at ~5~TM ~_.M.
ATTEST:
Diana L. Cordray, IA~C, Cler~-Trea'surer '
Prepared By: Barbara Lamb
Director of Human Resources
CITY OF CARIvlEL
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