RES 1978-28 - 00006893I
RESOLUTION NO. 28 -1978
A RESOLUTION SUPPORTING H.R. 10746, 11174 and S. 2627 RELATING TO
DEFERRFD COMPENSATION
WHEREAS, The Legislature of the State of Minnesota has adopted
legislation (M.S. 352.96 - 352.97) which permits employees participation
in deferred compensation plans, and
WHEREAS, These Statutes specifically allow "any" employee of the
State or any political subdivision thereof to participate, and
WHEREAS, The Internal Revenue Service ruled favorably on the plan
on January 9, 1976, and
WHEREAS, There are 355 employees in twenty -five cities participating
to date, and
WHEREAS, It is to the benefit of the employee, the Ci +v, the State
and the County to encourage employees to provide for themselves, and
WHEREAS, H.R. 10746, 11174 and S. 2627 allow for the continuation
of deferred compensation plans in the State of Minnesota.
NOW, THEREFORE, BE IT RESOLVED, That the Council of the City of
Fridley hereby asks your support of H.R. 10746, 11174 and S. 2627.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
3RD DAY OF APRIL, 1978.
MAYOR - WILLIA J. NEE
ATTEST:
(1/1A a2,
CITY CLERK - MARVIN C. BRUNSELL