HomeMy WebLinkAboutAgenda Report - September 21, 1983 (55)AMENMfFM' Tb
DEF'IIIItID
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RFS. 83-109
On motion of Mayor Pro Tempore Snider. Reid second, Council
adopted Resolution No. 83-109 amending Section B, entitled
"Deferred CaRpensation of Resolution No. 4336 as follows:
"As a supp 1 ement to the City's deferred conWnsa t i on p 1 an ,
the City will provide, in addition to normal salary and
contributions to deferred carpensation, an additional
contribution to expand retirement benefits. For
Classification A erployees, and additional 1.5% of inane;
for Classification B, an additional 1% of inane will be
added to individually selected deferred intone plan.
Fhployees wiII receive this during their employment with the
City of Lodi and cannot withdraw it until they either retire
or leave the service of the City".
This amendnent also is to be effective the first pay period
in July, commencing July 4, 1983.
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RESOLUTION NO. 83-109
A RESOLUTION AMENDING RESOLUTION NO. 4336 -
A RESOLUTION ADOPTING MANAGEMENT INCENTIVE
PLAN AS CITY POLICY
WHEREAS, Resolution No. 4336 was adopted by the City
Council of the City of Lodi on March 16, 1977, which
Resolution adopted a Management Ircentive Plan as City
Policy;
NOW, THEREFORE, Resolution No. 4336 is hereby
amended effective the first pay pe-riod in July, commencing
July 4, 1983, to read as follows:
Section B. Deferred Compensation
"As a supplement to the City's deferred
compensation plan, the City will provide,
in addition to normal salary and contributions
to deferred compensation, an additional
contribution to expand retirement benefits.
For Classification A employees, an additional
1.58 of income; for Classification B, an
ad idid tional 1% of income will be added to
individually selected deferred income plan.
Employees will receive this during their
employment with the City of Lodi and cannot
withdraw it until they either retire or leave
the service of the City."
Dated: September 21, 1983
I hereby certify that Resolution No. 83-109
was passed and adopted by the City Council
of the City of Lodi in a regular meeting
held September 21, 1983 by the following vote:
Ayes: Council Members - Pinkerton, Reid,
Snider & Olson (Mayor)
Noes: Council Members - None
Absent: Council Members - Murphy
Alice M. ReimChe t
City Clerk
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