Resolution No. 2113•c j i 3
, 122
RESOLUTION NO 2113
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CYPRESS AMENDING SECTION 4 5 OF "THE CITY OF
CYPRESS DEFERRED COMPENSATION PLAN"
WHEREAS, the City Council of the City of Cypress has heretofore
by its Resolution No 1696 established a plan pursuant to which em-
ployees of the City may elect to defer a portion of their income
until retirement; and
WHEREAS, said City Council by its Resolution No. 2048 approved
and adopted an amended and restated deferred compensation plan in
the form entitled "The City of Cypress Deferred Compensation Plan"
dated December 11, 1978; and
WHEREAS, said City Council now wishes to amend a portion of said
plan to provide the employees of the City with greater flexibility in
changing the amount of compensation to be deferred pursuant to said
plan,
NOW, THEREFORE, the City Council of the City of Cypress hereby
resolves that Section 4.5 of the aforesaid document entitled "The
City of Cypress Deferred Compensation Plan" hereby is amended to
read as follows:
4 5 A Participant may change the amount of compensation
to be deferred in subsequent Payroll Periods during the Em-
ployment Period, not more than once each calendar quarter,
by executing and filing notice with the Administrator at
least thirty (30) days prior to the beginning of the Payroll
Period for which such change is to be effective; provided,
however, that in no event shall any such change be effective
for any calendar month, or portion thereof, unless notice
has been given before the beginning of such calendar month
Such notice shall constitute an amendment to the Participation
Agreement, effective on the receipt by the Administrator of
such notice
PASSED AND ADOPTED by the City Council of the City of Cypress
at a regular meeting held on the llth day of June 1979
ATTEST:
CITY CL 1�44HE CITY OF CYPRESS
STATE OF CALIFORNIA )
ss
COUNTY OF ORANGE
YOR OF THE CII` DF CYPRESS
I, DARRELL ESSEX, City Clerk of the City of Cypress, DO HEREBY
CERTIFY that the foregoing Resolution was duly adopted at a regular
meeting of the said City Council held on the llth day of June 1979;
by the following roll call vote:
AYES:
NOES:
ABSENT:
5 COUNCIL MEMBERS: Evans, Hudson, Lacayo, MacLain and Rowan
0 COUNCIL, P'1Q BERS: None
0 COUNCIL MEMBERS: None
CITY E OF THE" CITY OF CYPRESS
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