HomeMy WebLinkAbout79-21RESOLUTION 79-21
A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AN
AGREEMENT WITH MISSIONSQUARE RETIREMENT (FORMERLY KNOWN AS
ICMA-RC) TO ESTABLISH A 401A EMPLOYER CONTRIBUTION FOR THE CITY
MANAGER GROUP
WHEREAS, the Town's Employee Personnel Rules and Regulations Section 400.1.3 has a self-
funded deferred compensation plan with no contribution from the Town;
WHEREAS, establish a 401A Employer Contribution for the City Manager Group in the
amount of $750 a month;
WHEREAS, the maximum total contribution (employee and employer) for 2021 is $58,000 and _
will be adjusted accordingly by IRS regulations;
NOW THEREFORE, resolved by the City Council of the Town of Los Altos Hills to establish
a 401A employer contribution in the amount of $750.00 a month for the City Manager Group
with MissionSquare Retirement.
The above and foregoing Resolution was passed and adopted by the City Council of the Town of
Los Altos Hills at a regular meeting held on the 18th day of November 2021 by the following
vote:
AYES: Tankha, Tyson, Mok, Schmidt, Swan
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST:
Deborah Padovan,
BY: Z-
Resolution 79-21
Kavita Tankha, Mayor
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