RES 2013-04TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2013-04
A RESOLUTION OF THE TOWN COUNCIL OF THE OF THE TOWN OF
TROPHY CLUB, TEXAS ADOPTING A 457 DEFERRED
COMPENSATION PLAN; ESTABLISHING FUNDING ACCOUNTS FOR
INVESTMENT CONTRIBUTIONS UNDER THE PLAN; AUTHORIZING
THE TOWN MANAGER TO EXECUTE NECESSARY PLAN
DOCUMENTS; AUTHORIZED BY THE TOWN COUNCIL; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club Town Council, (the "Council") pursuant to
its authority to adopt employee benefit programs, wishes to adopt plan documents to
make the benefits of the Security Benefit 457 Deferred Compensation Plan available to
Town Employees (the "Plan"); and
WHEREAS, the Council wishes to take any action necessary to adopt such trust
accounts, annuity contracts or custodial accounts as are necessary to establish funding
vehicles with Security Benefit affiliates for the Plan, to receive and invest contributions
in such investment options as are selected by Employees participating in the Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS THAT:
Section 1. The form of plan document for the Security Benefit 457 Deferred
Compensation Plan is hereby approved and adopted by the Town for the benefit of
Town Employees;
Section 2. Pursuant to the Plan, the Council further establishes funding
accounts with Security Benefit for receipt of the investment contributions made under
the Plan, as directed by participating Town Employees; and
Section 3. The Town Manager is hereby authorized and directed to execute
the Plan documents for the Plan in substantially the form presented to the Council, to
communicate the terms of the Plan to Town Employees, to designate Town Employees
as eligible for participation in the Plan in accordance with Plan terms, to enter into
agreements with Plan participants for participation in the Plan, including Salary
Reduction Agreements, to execute all necessary documents, and to take such further
actions as may be necessary and appropriate to implement the Plan and effectuate the
terms and intent of this and all other applicable documents.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas on this the 18th day of March, 2013.
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Connie White, Mayor
ATTEST:
Ar`iiy M. PiulXnd, TRMC; Town
Town of Trophy Club, Texas
APPROVED TO AS FORM:
Patricia A. Adams , Town Attorney
Town of Trophy Club, Texas
Town of Trophy Club, Texas
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*JANUP�
[SEAL]
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