Reso 2021-131 Amndt and Restatement of 457B Deferred Comp plan

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RESOLUTION THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO.2021-131 RESOLUTION OF THE CITY OF SAN LEANDRO CITY COUNCIL AUTHORIZING AN AMENDMENT AND RESTATEMENT OF THE CITY OF SAN LEANDRO 457(B) DEFERRED COMPENSATION PLAN TO INCLUDE THE ROTH CONTRIBUTION OPTION WHEREAS, the City established a Deferred Compensation Plan ("Plan") in 1983; and WHEREAS, the City desires to amend and restate the Plan to reflect the addition of the Roth Contribution option; and WHEREAS, plan participants may elect to make after-tax contributions into individual retirement accounts. NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows: That the amendment and restatement of the City of San Leandro 457(b) Deferred Compensation Plan to include the Roth Contribution Option are approved, and the effective date of the amended and restated Plan shall be September 1, 2021. Introduced by Councilmember Ballew and passed and adopted this 7th day of September 2021, by the following vote: Members of the Council: AYES: Councilmembers Aguilar, Azevedo, Ballew, Cox, Lopez, Simon, Mayor Cutter (7) NOES: None (0) ABSENT: None ATTEST: t'cia I. iguel, C' Clerk (0)