R-04-1408• CITY OF CLERMONT
RESOLUTION
NO. 1408
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLERMONT,
LAKE COUNTY, FLORIDA; AMENDING THE DEFINED CONTRIBUTION
RETIREMENT PLAN FOR THE GENERAL EMPLOYEES OF THE CITY, OF
CLERMONT, REVISING .THE DEFERRED COMPENSATION
CONTRIBUTION AS SET FORTH IN THE CITY MANAGER EMPLOYMENT
AGREEMENT, PROVIDING FOR CONFLICTING RESOLUTIONS; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council established a Defined Contribution Retirement Plan for employees of the City of
Clermont pursuant to Code Ordinance Number 315-C; and
WHEREAS, the Defined Contribution Retirement Plan Adoption Agreement was executed on November 13,
2001; and
WHEREAS, Section 23 of the Defined Contribution Retirement Plan Document authorizes the City Council to
make amendments, in whole or in part, either retroactively or prospectively, in accordance with the limitations
set out in that section; and
• WHEREAS, the City Manager Employment Agreement executed on April 9, 2002, provides for the City to
contribute to a deferred compensation plan on behalf of the City Manager in lieu of normal retirement plan
participation; and
WHEREAS, the City Council desires to amend the City's contribution rates from 8% to 10% as provided in the
General Employee Defined Contribution Retirement Plan Adoption Agreement and the City Manager
Employment Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Clermont, Lake County, Florida
that:
SECTION 1. The Defined Contribution Retirement Plan Adoption Agreement with regard to the City's
contributions is hereby amended to provide that the non-elective contributions elected by the City shall be made
on the basis often percent (10%) of participant's benefit compensation.
SECTION 2. This amendment expressly modifies the Adoption Agreement and any and all prior
amendments thereto and in the event of a conflict, the terms and conditions of this amendment shall prevail.
SECTION 3. Consistent herewith, the City's contribution rate to a deferred compensation plan as
provided in the City Manager Employment Agreement is hereby increased to 10% of the City Manager's
salary.
• SECTION 4. This Resolution shall shall be effective October 1, 2004.
DONE AND RESOLVED BY THE CITY COUNCIL OF THE CITY OF CLERMONT,
LAKE COUNTY, FLORIDA THIS 12TH DAY OF OCTOBER 2004.
ATTEST:
Tracy Ackroyd, ity Cler
•
o S. Turville, Jr.
Mayor
•