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Resolution No. 6483262 RESOLUTION NO. 6483 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS, AND ACTING AS EX- OFFICIO GOVERNING BOARD OF DIRECTORS OF THE CYPRESS RECREATION AND PARK DISTRICT, ADOPTING A 401(a) GOVERNMENTAL MONEY PURCHASE PLAN WHEREAS, the City of Cypress has employees rendering valuable services; and WHEREAS, the establishment of a money purchase retirement plan benefits employees by providing funds for retirement and funds for their beneficiaries in the event of death; and WHEREAS, the Employer desires that its money purchase retirement plan be administered by ICMA Retirement Corporation (ICMA -RC). NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cypress, and acting as ex- officio governing Board of Directors of the Cypress Recreation and Park District, hereby establishes or a money purchase retirement plan (the "Plan ") in the form of The ICMA Retirement Corporation Governmental Money Purchase Plan & Trust, pursuant to the specific provisions of the Adoption Agreement. The Plan shall be maintained for the exclusive benefit of Executive Management employees and their beneficiaries; and BE IT FURTHER RESOLVED that the City of Cypress hereby executes the Declaration of Trust of VantageTrust, intending this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the City of Cypress, if the assets of the plan are to be invested in the VantageTrust. BE IT FURTHER RESOLVED that the City of Cypress hereby agrees to serve as trustee under the Plan and to invest funds held under the Plan in the VantageTrust; and BE IT FURTHER RESOLVED that the City Manager hereby authorizes the Director of Finance and Administrative Services to execute all necessary agreements with the ICMA Retirement Corporation incidental to the administration of the Plan. BE IT FURTHER RESOLVED that the City Manager or his /her designee shall have the authority to add or amend the plans. PASSED AND ADOPTED by the City Council of the City of Cypress, and acting as ex- officio governing Board of Directors of the Cypress ' ecreation and Park District, at a regular meeting held on the 10th day of November, 201 ATTEST: CITY CLERK OF THE CITY OF CYPRESS STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS MAYOR •F THE CITY OF CYPRESS I, DENISE BASHAM, 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 10th day of November, 2014, by the following roll call vote: AYES: 5 COUNCIL MEMBERS: Bailey, Narain, Yarc, Johnson and Mills NOES: 0 COUNCIL MEMBERS: None ABSENT: 0 COUNCIL MEMBERS: None CITY CLERK OF THE CITY OF CYPRESS