HomeMy WebLinkAboutR-2006-063 Correction to 457 Plan RESOLUTION NO. 2006-063
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, APPROVING AN AMENDMENT TO THE CITY OF
DANIA BEACH SECTION 457 DEFERRED COMPENSATION PLAN;
PROVIDING FOR CONFLICTS: FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, it is desirable to amend certain aspects of the City of Dania Beach's Section
457 Deferred Compensation Plan; and
WHEREAS, these changes do not affect members of the bargaining units for police or
fire employees; and
WHEREAS, these changes have been negotiated and agreed upon with the bargaining
agent for the affected employees and accurately reflect the parties' understanding and agreement
and supersedes and clarifies previous expressions of that understanding and agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF DANIA BEACH:
Section 1. That employees hired on or after March 1, 2006 may, upon hiring, elect to
participate in the Section 457 deferred compensation plan with a matching contribution by the
City of up to 1.8% of pay. All contributions shall be subject to all applicable legal limitations
and other provisions of law and no action shall be taken that will affect the plan's tax-qualified
status. Failure to elect to participate upon hiring shall not preclude the employee's later election
to participate in the Section 457 plan, if otherwise permitted by the plan and other applicable
law, rules, and regulations, but such later participation shall not include the 1.8% City
contribution authorized in this provision.
Section 2. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 3. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on March 28, 2006.
PATRICIA FLURY
MAYOR-COMMISSIONER
ATTEST: ROLL CALL:
-���.�.L��71 COMMISSIONER BERTINO - YES
LOUISE STILSON, CMC COMMISSIONER CASTRO - YES
CITY CLERK COMMISSIONER MCELYEA - YES
VICE-MAYOR ANTON - YES
MAYOR FLURY - YES
APPROVED AS TO F AND CORRECTNESS:
BY: j t
TH MAS J'ANSBRO
CITY ATTORNEY
2 RESOLUTION #2006-063