(A) There is hereby established the city deferred compensation plan for the voluntary participation of all eligible employees and elected officials.
(B) The city will utilize the state’s plan document and its investment options. The city will contract with Indiana Deferred Compensation Plan, Inc. to be the exclusive servicing manager and enroller.
(C) The city shall appoint an Administrator of the plan, and authorizes him or her to make deductions from the pay of employees, who voluntarily participate, and to make other arrangements as are necessary to implement the plan. It is understood that, other than the incidental expenses of collecting the employees’ deferrals and other minor administrative matters, there is to be no cost or contribution by the city to this plan.
(Ord. 88-21, passed 11-14-1988)