1984-104-Establishing Rate Of Administrative Charges For The Town Retirement Plan For FY 1984-85RESOLUTION N0, 1984 -104
A RESOLUTION ESTABLISHING RATE OF ADMINISTRATIVE
CHARGES FOR THE TOWN RETIREMENT PLAN FOR FY 1984 -85,
WHEREAS, Chapter 20 of the Town Code provides that the annual adminis-
trative costs for the Town Retirement Plan shall be paid for by
Plan members; and
WHEREAS, the Town has determined that the individual member cost will be
$450.00 per year;
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Los
Gatos that members of the Town Retirement Plan currently employed
by the Town shall have the administrative costs deducted from
their payroll checks in the amount of $37.50 per month; and that
the members of the Plan not then employed shall have $450.00
deducted from their Trust Accounts for payment of administrative
costs at the close of FY 1984 -85; and
BE IT FURTHER RESOLVED that no member shall pay in excess of $450.00
whether through payroll deduction or Trust Account deductions
during FY 1984 -85.
PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF LOS GATOS, CALIFORNIA,
at a regular meeting held this 2nd day of July
1984, by the following vote:
AYES: COUNCILMEMBERS Joanne Benjamin, Eric D.
Carlson, Brent N. Ventura and Mayor Thomas
J. Ferrito
NOES: COUNCILMEMBERS None
ABSENT: COUNCILMEMBERS Terrence J. Daily
ABSTAIN: COUNCILMEMBERS None
SIGNED:
OR OF THE T L GATOS
ATTEST:
CLERK OF TH TOWN F LOS GAT S