HomeMy WebLinkAboutResolution 11-1992 1.
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RESOLUTIOH N0. 11-92
ADOPTIHG SDRS SUPPLEMEHTAL RETIREMEHT PLAN ( "Plan" ) PERMITTIHG ALL
EMPLOYEES OF THE CITY OF BROOKINGS TO DEFER A PORTIOH OF THEIR
COMPEHSATIOH.
WHEREAS, South Dakota Codified Laws (SDCL), Chapter 3-13,
provides that the South Dakota Retirement System Board ( "Bosrd" > may
establish the South Dakota deferred compensation plan, for state
government and political subdivision governments; and
WHEREAS, SDCL 3-13 further provides that the Board may adopt
rules and procedures governing the plan and participation by political
subdivisions; and
WHEREAS, the Board has established the Plan, entitled "SDRS
Supplemental Retirement Plan", and has adopted Procedures for
political subdivisions governments to join; and
WHEREAS, the City of Brookings wishes to join the Plan for
benefit of its employees; now, therefore,
BE IT RESOLVED by the City Commissioners of the City of
Brookings, that the City of Brookings, hereby �oins the Plan and
extends to all its employees the opportunity to participate in the
Plan.
BE IT FURTHER RESOLVED, that Mayor Orrin P. Juel be, and he
hereby is, authorized, empowered and directed to do all acts and
things, and to execute all documents in writing, including, without
limitation, a Joinder Agreement and Request for Participation, which
the Board determines to be necessary or desirable in order to
effectuate joining the Plan, and to make Contributions thereunder.
�� ssed and approved this llth day of February, 19�92.
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` 1A�R'9 s Mayor
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Finance Officer
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RESOLUTION NO. 3 - 92
RESOLUTION ADOPTING THE SOUTH DAKOTA RETIREMENT
SYSTEM SUPPLEMENTAL RETIRF�'iENT PLAN
WHEREAS South Dakota Codified Laws (SDCL} , Chapter
3-13, provides that the South Dakota Retirement Board may
establish th� South Dakota Supplemental Retireraent Plan, a
deferred compensation plan permitting all employees of state
government and political subdivisions thereof to defer a
portion of their compensation; and
WHEREAS SDCL 3-13 further provides that the Board
may adopt rules and procedures governing the plan and
participation by political suhdivisions; and
WIi�REAS the Board has established the Plan,
entitled the "SDRS Supplemental Retirement Pla.n", and has
adopted procedures for political subdivision governments to
join; and
WHEREAS Brookings Municipal Utilities wishes to
join the Plan for the benefit of its employees.
NOW, THEREFORE, BE IT RESOLVED by the Brookings
Municipal Utilities Board that Brookiags Utilities hereby
joins the Plan and extends to all its employees the
opportunity to participate in the Plan.
BE IT FURTf�R RESOLVED that the Finance and
Accounting Manager be, and hereby is, authorized, empowered
and directed to c�o all acts and things, and to execute all
documents in writing, including, without limitation, a
Joinder Agreement and Request for Participation, which the
Board determines to be necessary or desirable in order to
effect�aate jaining the Plan, and to make Contributi.ons.
thereunder.
Adopted this lOth day of February, 1992.
ATTEST:
Edward P. Hogan, Secretary Lynn A. Anderson, President