HomeMy WebLinkAbout8126 - Deferred Compensation Plan•
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RESOLUTION NO. 8126
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH ESTABLISHING A
DEFERRED COMPENSATION PLAN FOR ITS EMPLOYEES
WHEREAS, the City of Newport Beach has in its employ
many qualified employees who render valuable services to said
City; and
WHEREAS, the City has considered the establishment of
a deferred compensation plan for said employees; and
WHEREAS, said deferred compensation plan would benefit
the employees of the City by allowing them to better provide for
their financial security at the time of their retirement; and
WHEREAS, the City would benefit from said deferred
compensation plan in that it would be able to attract and re-
tain competent personnel in its service.
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach does hereby establish a deferred
compensation plan for the employees of said City. A copy of
said plan shall remain on file in the office of the City Clerk.
ADOPTED this 12th day of November , 1973.
ATTEST:
ty Cler �
YIFIED AS Y GINAL
CITY tLEM OF THE CITY OF EWPORT Baq
oarE,
NOV -14 1973
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DRB dm
11/5/73