HomeMy WebLinkAboutResolutions - No. 2019-111RESOLUTION NO. 2019-111
A RESOLUTION OF THE LODI CITY COUNCIL
APPROVING REVISED NORMAL RETIREMENT
AGE IN DEFERRED COMPENSATION PLAN
DOCUMENTS FOR MASS MUTUAL
WHEREAS, the Lodi City Council had previously approved and adopted the City of Lodi
Deferred compensation plan ("Plan") with Mass Mutual to provide employees of the City of Lodi
will retirement benefits; and
WHEREAS, the Lodi City Council declares the intention of the City of Lodi to continue
the Plan; but reserves the right to terminate or amend the Pian at any time; and
WHEREAS, the Lodi City Council is authorized to take such actions and to execute such
documents as they deem necessary or desirable in order to carry out the intent of the forgoing
resolutions and required under the Plan to make the Plan fully effective in accordance with the
terms and intent.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby approve
amending the Normal Retirement Age from Age 50 to Age designated by the Participant for all
Employees; and
BE IT FURTHER RESOLVED that the Lodi City Council does hereby approve the
amendment to the Plan with Mass Mutual effective June 19, 2019; and
BE IT FURTHER RESOLVED that the Lodi City Council does hereby authorize the
City Manager to take such actions and to execute such documents as deemed necessary or
desirable in order to carry out the intent of the forgoing resolutions and required under the Plan
to make the Plan fully effective in accordance with the terms and intent.
Dated: June 19, 2019
I hereby certify that Resolution No. 2019-111 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held June 19, 2019, by the following vote:
AYES: COUNCIL MEMBERS — Johnson, Kuehne, Mounce, and Nakanishi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — Mayor Chandler
ABSTAIN: COUNCIL MEMBERS — None
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J' ► NIFER MFERRAIOLO
City Clerk
2019-111