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A RESOLUTION AUTHORIZING THE ~YOR TO EXECUTE AN AI~NDED <br />TRUST AGREEMENT ON BEHALF OF THE CITY WiTHIC~ RETIRE~NT <br />CORPORATION EXTAELISHiNG A DEFE~qED COMPENSATION PLAN FOR <br />CERTAIN OFFICERS, OFFICIALS AND ~IPLOYEES OF THE CITY OF <br />PORTSMOUTH AND AUTHORIZING THE CiTY MANAGER TO OFFER MEMBER- <br />SHiP THEREIN TO SAiD EMPLOYEES. <br /> <br /> WheReAS, the City of Portsmouth has previously <br />established the ICMA Retirement Corporation Deferred Com- <br />pensation Plan for certain of its employees; and <br /> <br /> WHEREAS, the IC~ Retirement Corporation has re- <br />quested that certain amendments be made to said plan; and <br /> <br /> WHEREAS~ said amendments assist the City of Ports- <br />mouth by simplifying the administration of said plan; and <br /> <br /> WHEREAS, the City will assist its employees, at <br />no cost to itself, by the incorporation of additional attract- <br />ive features into said plan. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the City of <br />Portsmouth amend its trust agreement with the ICM~A Retire- <br />ment Corporation by substituting therefor the deferred com- <br />pensation plan, attached hereto as Appendix A; it hereby <br />authorizes its Mayor to execute the deferred compensatio~ <br />plan with the IC~ Retirement Corporation; and <br /> <br /> IT IS FURTHER RESOLVED that, except for the Joinder <br />Agreement of the City Manager, which is to be executed by the <br />Mayor, the City Manager may~ on behalf of the City of Ports- <br />mouth, execute all Joinder Agreements with said employees <br />and other eligible officials and officers, which are necessary <br />for said persons' participation in the plan, an example of <br />which appears at Appendix B. <br /> <br /> Adopted by the Council of the City of Ports~nouth, <br />Virginia, at a meeting held January 28, 1975. <br /> <br />Teste~ <br /> <br />City Clerk <br /> <br /> <br />