HomeMy WebLinkAboutOrdinance - 2011-O0112 - Amend Ordinance 2007-O0109; Particulars Of A Deferred Compensaton Plan Employees - 11/03/201111
First Reading
November 3 , 2011
Item No . 5 .8
ORDINANCE NO. 2011-00112
Second Reading
Novembe r 16, 2011
Item No . 5 .3
AN ORDINANCE /\MENDING ORDINANCE NO. 2007-00109 OF THE
CITY OF LUBBOCK, WHJCH ORDINANCE PROVIDED PARTICULARS OF A
DEFERRED COMPENSATION PLAN FOR CITY EMPLOYEES.
WHEREAS . the City Council heretofore established a Deferred Co mpensation
Plan for City employees by enacting Ordinance No. 7809 as amended by Ordinance
8904, 978 1, and 10121, 2001-00109, 2004-00099, 2005-00064, and 2007-00109;
and
WI lEREAS. the City Council also desi res to change the make-up of the
Oversight Committee; NOW THEREfOR.E:
BE IT ORDAINED BY THE CITY COUNCIL or THE CITY OF LUBBOCK:
Tl IAT Ordinance No. 2007-00 I 09, Section 3.02 or the City of Lubbock, BE
and is hereby amended effecti ve immediately, to read as l'ollows:
3.02. Oversight Committee: The Oversight Committee shall consist of three
(3) employees or the City of Lubbock who shall be designated by, and shall serve at
the pleasure or. the City Manager. The Comm ittee shall meet as often as necessary to
transact business. but not less than quarterly. A quorum must be present to conduct
business. The agenda fo r such meetings shall be prepared by the Plan Ad mini strator.
and shall include all matters concerning the Plan which Plan Participants desire to
submit for the Comm ittee's consideration, including, but not limited to, requests from
Participan ts for \Vithdrawals due to unforeseeable emergencies. In addition. the
Commince shall review all criteria and procedures developed by the Plan
Administrator under Section 3.03 of this Pl an, and may also promulgate rul es and
regulations fo r the administration of the Pl an. provided they arc 110 1 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 thi s ~ day of November
Passed by Cit y Co un cil on second readin g thi s 16th day of November
TOM MA RTI N, Mayor
,'.Wll.
. 201 1.
ATTEST:
~~ii~ Sccret~--------
APPROVED AS TO CONTENT:
Leisa Hutc eson, Director of Human Resources
ms/Dclcrrccl Comp i\mc11d ord
10.5.11