City of Bellevue, WA
File #: RES 9093   
In control: City Council Regular Session
On agenda: 5/2/2016
Title: Resolution authorizing: 1) all actions necessary and appropriate to request the Washington State Department of Retirement Systems approve City's participation in the State's Deferred Compensation Program (DCP), a supplemental 457 retirement savings program for the eligible employees of the City of Bellevue, subject to the requirements of Revised Code of Washington 41 .50.770 and Washington Administrative Code Chapter 415-501; and 2) all actions necessary and appropriate to terminate the City of Bellevue 457 Plan and Trust upon completing the transfer of the City of Bellevue 457 Trust Funds to the State's 457 DCP Plan Trust Fund.
Attachments: 1. Agenda Memo, 2. Resolution
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Title

Resolution authorizing: 1) all actions necessary and appropriate to request the Washington State Department of Retirement Systems approve City’s participation in the State’s Deferred Compensation Program (DCP), a supplemental 457 retirement savings program for the eligible employees of the City of Bellevue, subject to the requirements of Revised Code of Washington 41 .50.770 and Washington Administrative Code Chapter 415-501; and 2) all actions necessary and appropriate to terminate the City of Bellevue 457 Plan and Trust upon completing the transfer of the City of Bellevue 457 Trust Funds to the State’s 457 DCP Plan Trust Fund.