81-6450R94
RESOLUTION NO. 6450
RESOLUTION AUTHORIZING AGREEMENT WITH
CITY MANAGER RELATING TO DEFERRED COMPENSATION
WHEREAS, Karl Nollenberger ("Nollenberger"), City Manager of
the City of Richfield, has elected to be excluded from
membership in the Public Employees Retirement Association,
which election has been approved by the city council, and
WHEREAS, prior to such action the city has contributed an
employer's contribution to the Public Employees Retirement
Association for his account, and
WHEREAS, by reason of such election, the city's employer
contribution to PERA on his account will cease, and.
WHEREAS, Minnesota Statutes, Section 353.025, Subdivision 3,
.provides as follows:
"[DEFERRED COMPENSATION; CITY CONTRIBUTION.] If an
election of exclusion,is made, and if the city manager
and the governing body of the city agree in writing
that the additional compensation is to be deferred
and shall be contributed on behalf of the city manager
to a deferred compensation program which meets the
requirements of section 457 of the Internal Revenue
Code of 1954, as amended through December 31, 1980,
the governing body may compensate the city manager,
in addition to the salary allowed under any limita-
- tion imposed on salaries by law or charter, in an
amount equal to the employer contribution which would
be required by section 353.27, subdivision 3, if the
city manager were a member of the association."
WHEREAS, the city council desires to exercise the authority
conferred by the aforementioned Subdivision 3,
NOW, THEREFORE, BE IT RESOLVED by the city council of the
City of Richfield, Minnesota, as follows:
1. In addition to the city manager's salary now in
effect or which may hereafter be established from time to
time as his stated salary, Nollenberger shall be compensated
in an additional amount equal to the employer contribution
which would be required by Minnesota Statutes, Section
353.27, Subdivision 3, if he were a member of the Public
Employees Retirement Association subject, however, to the
provisions of the following paragraph.of this resolution.
2. Such additional compensation shall be paid only if
and during the time that there is an agreement between City
and Nollenberger whereinlit is agreed in writing that the
additional compensation is to be deferred and shall be
contributed on behalf of~INollenberger to a deferred compen-
sation program which meets the requirements of Section 457
of the Internal Revenue Code of 1954, as amended through
December 31, 1980. ',
3. The mayor, acting for and in behalf of the city,
is hereby authorized andl,directed to enter into an agreement
of a type described in the foregoing paragraph no. 2 with
Nollenberger. Upon the execution of such agreement, the
mayor, city manager and other appropriate officials of the
city are authorized to take the actions necessary to give
effect to .the provisions', of such agreement.
Passed "py the City Council of the City of Richfield this 22nd
day of June, 1981.
o J. Prieb ayor
ATTEST:
~,
Syly' K. Bergh City Clerl