Resolution Number 97-7-1-2RESOLUTION NO. 97-7-1-2
ESTABLISHING A DEFERRED COMPENSATION PLAN WITH
LINCOLN NATIONAL CORPORATION
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, ESTABLISHING A 457 DEFERRED
COMPENSATION PLAN WITH LINCOLN NATIONAL CORPORATION
WHEREAS, the City of San Juan Capistrano (herein referred to as "Employer") has
employees rendering valuable services; and,
WHEREAS, the establishing of a deferred compensation program for such employees
will serve the interest of the Employer by enabling it to provide reasonable retirement security for its
employees, by providing increased flexibility in its personnel management system, and by assisting
in the attraction and retention of competent personnel; and,
WHEREAS, the employer has determined that the establishment of a deferred
compensation program to be administered by Lincoln National Corporation will serve the above
objectives; and,
WHEREAS, the Employer desires that the investment of funds held under its deferred
compensation program be administered by Lincoln National Corporation, as Trustee.
NOW, THEREFORE, BE IT RESOLVED, that the Employer approves the
addition of Lincoln National Corporation as a funding provider under its deferred compensation
program and authorizes the Administrative Services Director to act on its behalf to make necessary
application to and sign administrative documents to enter into an agreement with Lincoln National
Corporation.
BE IT FURTHER RESOLVED, that the Administrative Services Director shall be
the coordinator for this program and shall receive necessary reports, notices, etc. from Lincoln
National Corporation as Administrator. Administrative duties to carry out the plan may be assigned
to the appropriate departments.
ATTEST:
CITY CLE
PASSED, APPROVED, AND ADOPTED this
.1997.
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D VMD M. S RDLIN, MA OR
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day of
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano, California,
DO HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution No.
97-7-1-2 adopted by the City Council of the City of San Juan Capistrano, California,
at a regular meeting thereof held on the 1st day of July 1997, by the
following vote:
AYES: Council Members Jones, Greiner, Hart, Campbell
and Mayor Swerdlin
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
CHERYL WfIN56N, CITY CLERK
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