Sample Resolution For Adopting Changes Requred By The Internal Revenue Service Under U.s.c.a. 401(A)(9) To An Existing Deferred Compensation Plan printable pdf download

Sample Resolution For Adopting Changes Requred By The Internal Revenue Service Under U.s.c.a. 401(A)(9) To An Existing Deferred Compensation Plan

SAMPLE RESOLUTION

FOR ADOPTING CHANGES REQURED BY

THE INTERNAL REVENUE SERVICE under U.S.C.A. §401(a)(9)

TO AN EXISTING DEFERRED COMPENSATION PLAN

DEFERRED COMPENSATION PLAN

WHEREAS, the [LOCAL GOVERNMENT] (hereinafter referred to as the “Employer) by resolution

adopted a Deferred Compensation Plan (hereinafter referred to as the “Plan”) effective [DATE

INITIAL PLAN ADOPTED] for the purpose of making available to eligible employees the accrual

of tax benefits under a Section 457 Deferred Compensation Plan; and

WHEREAS, U.S.C.A. §401(a)(9) amended Section 457 of the Internal Revenue Code (the “Code”);

and

WHEREAS, the Employer desires its Plan to conform with the changes in the Code brought about by

U.S.C.A. §401(a)(9); and

IF ADOPTING AMENDMENTS TO AN EXISTING PLAN DOCUMENT

WHEREAS, such amendments shall supersede the provision of the Plan to the extent those provisions

are inconsistent with the provision of this amendment.

NOW, THEREFORE BE IT RESOLVED that the Employer hereby adopts the attached Amendment

to Deferred Compensation Plan Document [PLAN IDENTIFIER] to be part of and incorporated into

its existing Deferred Compensation Plan Document.

IF ADOPTING A RESTATED PLAN DOCUMENT

WHEREAS, the Employer desires to adopt a restated Plan that conforms with the changes in the Code

resulting from U.S.C.A. §401(a)(9); and

WHEREAS, such revised Plan shall supersede the previously adopted Plan;

NOW, THEREFORE BE IT RESOLVED that the Employer hereby adopts the attached revised Plan

[PLAN IDENTIFIER].

BE IT FURTHER RESOLVED that a certified copy of this resolution shall be forwarded to the

Director of the Division of Local Government Services.

Sample Resolution For Adopting Changes Requred By The Internal Revenue Service Under U.s.c.a. 401(A)(9) To An Existing Deferred Compensation Plan