The U.S. Conference of Mayors' Deferred Compensation Program and its attendant investment options are hereby adopted and established as the Borough of Ellwood City Deferred Compensation Plan for the voluntary participation of all eligible Borough employees, elected officials and independent contractors. The Secretary/Treasurer is hereby authorized to execute for the Borough individual participation agreements with each said employee requesting the same, to act as the Administrator of the Plan, representing the Borough, and to execute such agreements and contracts as are necessary to implement the Program. It is implicitly understood that other than the incidental expenses of collecting and disbursing the employee's deferrals and other minor administrative matters, there is to be no cost to the Borough for the Program.
(Res. 1995-16. Passed 8-23-95.)