R-12-09-27-G3 - 9/27/2012 f
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RESOLUTION NO. R-12-09-27-G3
WHEREAS,the City of Round Rock,along with Williamson County and the Cities of Georgetown
and Pflugerville, became a Participating Employer in the Central Texas Deferred Compensation Plan,an
IRC §457(b) governmental deferred compensation plan, by adopting the "Central Texas Deferred
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Compensation Plan Charter and By-laws"on December 16,2010 by Resolution No.R-10-12-16-10E2,and
WHEREAS, the City of Round Rock now desires and intends to withdraw from such Central
Texas Deferred Compensation Plan, and
WHEREAS, the City of Round Rock intends to give notice of such withdrawal to Williamson
County and the Cities of Georgetown and Pflugerville,Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,TEXAS,
That the City of Round Rock withdraws completely from the Central Texas Deferred Compensation
Plan, as a Participating Employer or in any other respect, and shall no longer be bound by its Charter and
By-laws.
That, because no Plan contract has ever been put in place since adoption of the Charter and By-
laws, such withdrawal is not precluded by Section IE. of the Charter and By-laws which reads as follows:
"A Participating Employer may not withdraw until the expiration of the then current Plan contract term."
That the City of Round Rock hereby gives notice of its withdrawal to Williamson County and the
Cities of Georgetown and Pflugerville.
The City Council hereby finds and declares that written notice of the date,hour,place and subject
of the meeting at which this Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and the subject matter hereof were
discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551,
Texas Government Code, as amended.
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RESOLVED this 27th day of September, 2012.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
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SARA L. WHITE, City Clerk
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r7K,TEXAS City Council Agenda Summary Sheet
PURPOSE PASSION.PROSPERITY.
Agenda Item No. G3.
Consider a resolution authorizing the withdrawal by the City of Round Rock from the
Agenda Caption: Central Texas Deferred Compensation Plan.
Meeting Date: September 27, 2012
Department: Human Resources
Staff Person making presentation: Valerie Francois
Human Resources Director
Item Summary:
This resolution is to withdraw from the Central Texas Deferred Compensation Plan that was created via Resolution
No. R-10-12-16-10E2 dated December 16, 2010. The role and purpose of the Central Texas Deferred Compensation
Plan Oversight Committee is beyond the expectations set out in the original agreement. With the hiring of the new
Benefits Manager,we believe that we should reevaluate whether this is a viable avenue for the City.
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Cost: There is no cost to approve this resolution.
Recommended Action: Approval
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