HomeMy WebLinkAboutOrdinance - 2023-O0086 - Amending Ordinance 2011-O0112, Deferred Compensation Plan - 07/25/2023First Reading
July 11, 2023
Item No. 5.17
ORDINANCE NO. 2023-00086
Second Reading
)uly 2s, 2023
Item No. 5.21
AN ORDINANCE AMENDING ORDINANCE NO. 2011-00112 OF THE CITY OF
LUBBOCK, WHICH ORDINANCE PROVIDED PARTICULARS OF A DEFERRED
COMPENSATION PLAN FOR CITY EMPLOYEES.
WHEREAS, the City Council heretofore established a Deferred Compensation Plan for
City employees by enacting Ordinance No. 7674 as amended by Ordinance 7809, 8904, 9781,
10121, 2001-00109, 2004-00099, 2005-00064, 2007-00109, and 2011-00112; and
WHEREAS, it is the desire of the City Council to change the make-up of the Oversight
Committee for the City's Deferred Compensation Plan; NOW THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT Ordinance No. 2011-00112, Section 3.02 of the City's Deferred Compensation
Plan, BE and is hereby amended effective immediately, to read as follows:
3.02. Oversight Committee: The Oversight Committee shall consist of the City's Chief
Financial Officer (or their designee), the Director of Human Resources (or their
designee), and three (3) City employees who are current participants in the Plan. The
three (3) employee members of the Oversight Committee shall be comprised of one (1)
Police Department employee, one (1) Fire Department employee, and one (1) Non-
Civil Service employee (any department). The three (3) employee members of the
Oversight Committee shall be designated by, and shall serve at the discretion of, the
City Manager. The Committee shall meet as often as necessary to transact business but
not less than quarterly. A quorum must be present to conduct business. The agenda for
such meetings shall be prepared by the Plan Administrator and shall include all matters
concerning the Plan which Plan Participants desire to submit for the Committee's
consideration, including, but not limited to, requests from Participants for withdrawals
due to unforeseeable emergencies. In addition, the Committee shall review all criteria
and procedures developed by the Plan Administrator under Section 3.03 of this Plan
and may also promulgate rules and regulations for the administration of the Plan
provided they are not inconsistent with the provisions of this Plan or State and Federal
Laws governing this Plan.
AND IT IS SO ORDERED.
Passed by City Council on first reading on July 11, 2023
2023.
Passed by City Council on second reading on July 25, 2023 2023.
,
TRA E, MAYOR T �
ATT �ST:
Courtney Paz, City Secret ry ~
APPROVED A� TO CONTENT:
Bill Ho erton, Depu City Manager
Attorney
ccdocs II/Deferred Comp Ord.Amend 2023
June 20, 2023