HomeMy WebLinkAboutCity of Tamarac Resolution R-82-3141
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Introduced by Temp. #2503
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-,&Zf l
A RESOLUTION AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO
TAIL NECESSARY ACTION TO EFFECTUATE A DEFERRED COMPENSATION
PLAN.
WHEREAS, the City Council of the City of Tamarac desires,to provide '
benefits for its employees in the form of deferred compensation; and
WHEREAS, the City desires to accumulate appropriate reserves to
informally fund its obligations under such deferred compensation plan; and
WHEREAS, it is the intention of the City Council that the premiums paid
by the City for such informal funding shall not currently be considered as income
paid to the plan participants.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TAMARAC, FLORIDA:
SECTION I: That the City Council shall hereby adopt the Deferred
Compensation Plan for and on behalf of the City to provide retirement and other
benefits to its employees in order to secure the most advantageous income tax
treatment available on a non -qualified basis;
SECTION II: That in order for the City to meet its future obligations
under the Deferred Compensation Plan, the City Manager is hereby authorized to
procure annuity contracts on the lives of the participants in said Plan from
Aetna Life Insurance and Annuity Company, Hartford, Connecticut, in an amount
sufficient to fulfill the liability of the City, which contracts shall designate
the City as owner and beneficiary;
SECTION III: That the City Manager is hereby authorized to sign the
applications for such contracts on behalf of the City, to pay all premiums falling
due thereon until otherwise directed by the vote of this City Council.
SECTION IV: This Resolution shall become effective upon adoption.
PASSED, ADOPTED AND APPROVED this /Q day of �%1982.
��
VA III, OW
I HEREBY CERTIFY that I have
approved the form correctness
of this RESOLUTION
�V
MAYOR
MAYOR:
DISTRICT
DISTRICT
DISTRICT
DISTRICT
RECORD OF COUNCIL VOTE
MASTER APPLICATION „ /Etna Life Insurance and Annuity Company
ur,= & cAsuALTv
For Group Contract 50 �X,, J'I�j151 Farmington Ave., Hartford, Connecticut 06156
1
1. Applicant (give exact legal name): City of Tamarac, Florida
Address: 5811 NW 88 Avenue, Tamarac, Florida 33321
(street) (city) (state) (zip code)
2. Employer: City Of Tamarac, Florida
Address: 5811 NW88 Avenue, Tamarac, Florida. 33321
j,,-- Tax Identification Number: (street) (city) (state) (zip code)
3. Exact Name of Plan, if any: City of Tamarac, Floridst Doferred Cn.,Y n tinr Plan
4. Section (if any) of Internal Revenue Code undet which plan is to qualify (complete one block only):
4A—Section 401 Type of Contract:
❑ Corporation ❑Unallocated
❑ Self-employed, HR-10 ❑Allocated
❑AI located with minimum death benefit
Ownership will be vested in applicant, unless stated otherwise in Item 8 or on the Individual Application.
4B —Sect ion 403 (b
❑ Public School System
❑ Other:
Ownership will be vested in applicant, but participants will at all times have 100% vested interest in their
own individual account.
4C — Non -Qua I if i ed
Deferred Compensation
Ownership must be vested in employer.
Type of Contract:
[]Group Variable Fund (Account E)
❑Group Unit Purchase
5. Percent (in multiples of 10) of employer contributions (if any) to be allocated to:
El A. .Etna Variable Fund
/Etna Variable Encore Fund
/Etna Income Shares
General (Fixed) Account
100%
$B. Per individual application or allocation form.
/ 6. Contract to be effective on
7. Is the contract for which you are applying intended to replace any existing insurance or annuity contracts or
mutual funds investments? If "yes" give amount, plan, name of company and date of termination:
no
8. Special Requests: "n"A
Corrections and amendments (Home Office Use Only). (Errors and omissions may be corrected by the
Company, except that no change in plan, classification, amount or extra benefits shall be made without
written agreement of the undersigned.)
1 understand that annuity payments and termination values (if any), provided by the contract being applied for,
when based on investment experience of a separate account, are variable and are not guaranteed as to fixed
dollar amount.
_this loth day of o toty�mbber19 82
ApplicaiIW/C6ner
Laura Z. Stuurmans, City Manager
Dated at Tamarac. Florida
(city and state)
Witness
Agent's Note:
Do yourknow or have reason to believe that any existing insurance or annuities will be replaced or modified if
this contract is iss ed? ❑ Yes Eallo
-300-GM V-G I
Signature of Soliciting Agent/AoR
•39108
PRINTED IN U.S.A. CAT. 133566
AGENT'S REPORT
,. ec,
General Agent f�
Agency Lie ode
,4 1 %Split
2.
Agent of Record "
Agent of Record
Agent of Record = 1000/0
3. 1 T G'�lc�-
Soliciting/Enrolling Agent
Soliciting/Enrolling Agent
Soliciting/Enrolling Agent = 100000
4.
Servicing Agent
Servicing Agent (Complete only if different
from Item 3)
Servicing Agent = 100•0/
5. Please explain any special commission/override arrangements that cannot be illustrated above:
I hereby acknowledge receipt of prospectuses
dated May 3, 1982 for:
(1) group variable retirement annuity contracts
(GROUP-TDA/DC) for tax -deferred annuity
plans and public employee deferred compensa-
tion plans issued by Xtna Life Insurance and
Annuity Company;
(2) Xtna Variable Fund, Inc.;
(3) Etna Income Shares, Inc.; and
(4) A;tna Variable Encore Fund, Inc.
CONTRACT EWS SIGNATURE
o ,, /ffz-
DATE
I