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A RESOLUTION ESTABLISHING A DEFERRED COMPENSATION PLAN FOR ELIGIBLE EMPLOYEES OF THE CITY AND AUTHORIZING THE CITY MANAGER TO EXECUTE A MASTER TRUST AGREEMENT WITH THE INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION AND AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE ~EFERRED COMPENSATION JOINDER AGREEMENTS WITH ELIGIBLE EMPLOYEES. 31 WHEREAS, the City of Portsmouth, Virginia has in its employee personnel who are and will be rendering valuable services to the City and its citizens; and WHEREAS, Article ~II of Chapter 31 of the Code of the City of Portsmouth, Virginia authorizes the establishment of a Deferred Compensation Plan for employees of this City; and WHEREAS, the City of Portsmouth, Virginia, receives benefits under the plan by being more able to attract competent personnel to its service and assuring such personnel reasonable security for their future; and WHEREAS, available to International Corporation. the Deferred Compensation Plan has been made the City and its employees by the City Management Association Retirement NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that a Deferred Compensation Plan be established for eligible employees, that the City Manager is hereby authorized to execute a Master Trust Agreement with the International City Management Association Retirement Corporation, such Trust Agreement being attached hereto as "Exhibit A". BE IT FURTHER RESOLVED that the City Manager or his designee may, on behalf of the City of Portsmouth, Virginia~ execute all Deferred Compensation Joinder Agreements which are necessary for employees to participate in the Plan. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held March 25, 1986. Teste: City Clerk