HomeMy WebLinkAboutRES 74 290,P '74/d z �F®
R E S' '0 'L' 'U T 'I' O N
WHEREAS, the City of Beaumont, Texas, has in its employ many
and various employees; and,
WHEREAS, these employees are and will be rendering valuable
services to the City; and,
WHEREAS, the City has considered the establishment of a de-
ferred compensation plan for employees made available to the City and
to the employees by Jefferson Pilot Equity.Sales, Inc.,; and,
WHEREAS, certain income tax benefits are accrued to the em-
ployees through participation in the said plan; and,
WHEREAS, the City recognizes that the tax advantages of the
said plan to the employees constitute a benefit to the City by allowing
the City to offer an additional "fringe benefit" in recruiting and re-
taining qualified personnel in its employment at no cost or charge to
the City;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the City establish the said deferred compensation plan for its
employees and that the City Manager be, and he is hereby, authorized,
empowered, and instructed to negotiate with employees as to terms
thereof and to execute, on behalf of the City, such agreements with
employees as may be required to effectuate said deferred compensation
plan.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
day of , 1974.
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