RESOLUTION R2023-XX
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MANTECA, STATE OF CALIFORNIA, ADOPTING THE AMENDED VESTING SCHEDULE FOR MISSION SQUARE RETIREMENT PLAN 106287 FOR NON-SAFETY EXECUTIVE MANAGEMENT HIRED AFTER 1/1/2007 WHEREAS, the City of Manteca has a Summary of Salaries and Benefits for Executive Managers adopted by City Council on August, 15, 2023, and WHEREAS, the Summary of Salaries and Benefits for Executive Managers has an updated vesting schedule for the 401A Supplemental Retirement enhancement; and WHEREAS, the 401A Supplemental Retirement vesting schedule Plan Adoption Agreement needs to be updated; and WHEREAS, the City Council has considered all information related to this matter, as presented at the public meetings of the City Council identified herein, including any supporting reports by City Staff, and any information provided during public meetings.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Manteca, as follows:
1. The City Council hereby finds that the facts set forth in the recitals to this Resolution are true and correct, and establish the factual basis for the City Council’s adoption of this Resolution.
2. The City Council of the City of Manteca does hereby approve the updated agreement between the City of Manteca, a Municipal Corporation, and MissionSquare Retirement Governmental Money Purchase Plan agreement Plan No. 106287 for Non-Safety Management Employees hired as an Executive Manager after 1/1/2007.
3. This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Manteca at a public meeting of said City Council held on the 19th day of December, 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR: _____________________________
GARY SINGH
Mayor
ATTEST: __________________________
CASSANDRA CANDINI-TILTON
City Clerk
Resolution __ ____
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ATTACHMENT 1
R2023-XX Page PAGE 1 of NUMPAGES 1 December 19, 2023