RESOLUTION NO. _____
A RESOLUTION OF THE CITY OF SANTA CLARA,
CALIFORNIA RENAMING AND SETTING FORTH THE
DUTIES AND RESPONSIBILITIES O F THE ADVISORY
COMMITTEE ON DEFERRED COMPENSATION
WHEREAS, the City of Santa Clara established a deferred compensation program whereby City officers and or employees can voluntarily authorize a deferral of a portion of their compensation to be invested in an Internal Revenue Service (IRS) approved deferred compensation plan authorized by the City Council, and regulated under applicable state and federal law, and IRS rules and regulations, known as a §457(b) Deferred Compensation Plan within the meaning of section 457(b) of the Internal Revenue Code of 1986, as amended; and
WHEREAS, on January 21, 1975, through passage and adoption of Resolution No. 3444, the City created an Advisory Committee (“Committee”) on deferred compensation and the Committee has advised concerning the City’s IRS section 457(b) Deferred Compensation Plan; and
WHEREAS, on October 7, 2025, the City adopted its qualified Internal Revenue Code §401(a) Deferred Compensation plan in the name of and for the benefit of eligible officers and employees and desires to vest the Advisory Committee with the authority to advice the City Manager concerning the City’s Deferred Compensation Plans, including but not limited to the 401(a) Deferred Compensation Plan and the 457(b) Deferred Compensation Plan, the City now renames and clarifies the Committee’s purpose, duties, and responsibilities.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF SANTA CLARA AS FOLLOWS:
1. The City Manager or designee is responsible for the operation of the City’s Deferred Compensation Plans and making determinations concerning questions arising out of the administration, interpretation, and application of the Plans;
2. The Advisory Committee is renamed the Deferred Compensation Committee, continues to and operates under the authority of the City Manager, and shall be comprised of up to seven persons who are eligible officers and employees under the City’s Deferred Compensation Plans, who shall be appointed by the City Manager; and
3. The Committee shall act in an advisory capacity and make recommendations to the City Manager or designee concerning the City’s deferred compensation plans and shall have the powers, duties, and responsibilities granted to City’s boards and commissions, as set forth in the City’s Municipal Code, including but not limited to, Municipal Code §§2.120.020, 2.120.030, and 2.120.040.
Effective date. This resolution shall become effective immediately.
I HEREBY CERTIFY THE FOREGOING TO BE A TRUE COPY OF A RESOLUTION
PASSED AND ADOPTED BY THE CITY OF SANTA CLARA, CALIFORNIA, AT A REGULAR MEETING THEREOF HELD ON THE ___ DAY OF _________, 2026, BY THE FOLLOWING VOTE:
AYES: COUNCILORS:
NOES: COUNCILORS:
ABSENT: COUNCILORS:
ABSTAINED: COUNCILORS:
ATTEST:
______________________________
NORA PIMENTEL, MMC
ASSISTANT CITY CLERK
CITY OF SANTA CLARA