98-8599r
57
RESOLUTION NO. 8599
RESOLUTION APPROVING PLAN MODIFICATION FOR
AETNA - 457 II DEFERRED COMPENSATION PLAN
WHEREAS, the City of Richfield currently offers a qualified deferred
compensation program to its employees; and
WHEREAS, the City of Richfield has a contract through Aetna Life Insurance
and Annuity (Aetna) for one such qualified 457 plan; and
WHEREAS, Aetna has approached the City with proposed plan modifications
incorporated into the Aetna Adapter - 457 II Deferred Compensation Plan; and
WHEREAS, the City of Richfield must formally approve such plan document in
order for the offering to be made to plan participants; and
WHEREAS, the plan modifications proposed by Aetna in the Aetna Adapter-
457 II Plan appear to be on balance favorable to plan participants.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield that the City Manager is authorized to execute all necessary documentation
and certifications that are necessary to approve and accept the Aetna Adapter - 457 II
Deferred Compensation Program.
Adopted by the City Council of the City of Richfield, Minnesota this 10th day of
August, 1998.
~. f~~fJl
Martin J. K h, Mayor
ATTEST:
-/~ p~,
Thomas P. Ferber, City Clerk