(a) The City does hereby establish a Deferred Compensation Plan for its full-time employees in accordance with the terms and conditions of the Deferred Compensation Plan of the International City Management Association amended as of June 28, 1974. A copy of such Deferred Compensation Plan is on file in the Office of the Clerk of Council and is incorporated by reference into this section as if fully rewritten herein.
(1) The Mayor is hereby authorized to enter into an agreement for the establishment of such Deferred Compensation Plan for City employees with the International City Management Association Retirement Corporation.
(2) The Director of Finance may, on behalf of the City, execute all joiner agreements with City employees, officials and officers who are eligible to participate, which agreements are or may be necessary for the participation of such persons in the Deferred Pension Plan. A copy of such joiner agreement is on file in the office of the Clerk of Council and is incorporated by reference into this section as if fully rewritten herein.
(b) Council hereby adopts a plan under the Ohio Public Employees Deferred Compensation Program and extends to all eligible employees the opportunity to join such plan.
(1) The Mayor is hereby authorized to enter into an agreement for the establishment of such Deferred Compensation Plan for City employees with the International City Management Association Retirement Corporation.
(2) The Director of Finance may, on behalf of the City, execute all joiner agreements with City employees, officials and officers who are eligible to participate, which agreements are or may be necessary for the participation of such persons in the Deferred Pension Plan. A copy of such joiner agreement is on file in the office of the Clerk of Council and is incorporated by reference into this section as if fully rewritten herein.
(c) Council hereby adopts a plan under the Ohio Public Employees Deferred Compensation Program and extends to all eligible employees the opportunity to join such plan.
(1) The Mayor is hereby authorized by Council to execute an Agreement with the Ohio Public Employees Deferred Compensation Board on terms and conditions which the Mayor determines are in the best interests of the City, which Agreement shall authorize the Board to offer a plan under the Program to all eligible employees of the City, and thereafter to administer the plan on behalf of such employees. A copy of such plan is on file in the office of the Director of Finance and such plan is incorporated by reference into this section as if fully rewritten herein.
(Ord. 2021-015. Passed 9-23-21.)