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HomeMy WebLinkAboutCC RESO 2015-126PROVED AS TO FORM: RESOLUTION NO. 2015 — 126 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY AUTHORIZING A ONE-TIME COMPENSATION STIPEND FOR MEMBERS OF THE EXECUTIVE AND MANAGEMENT OCCUPATION GROUPS IN THE FORM OF A $2,400 DEPOSIT TO THE INDIVIDUAL CITY OF NATIONAL CITY -ADMINISTERED DEFERRED COMPENSATION PLAN ACCOUNTS OF EACH INCUMBENT OF SAID GROUPS; AND ESTABLISHING APPROPRIATIONS FOR DEFERRED COMPENSATION TOTALING $86,400 TO ACCOUNT FOR THIS EXPENSE WHEREAS, staff seeks authority to grant a stipend members of the Executive and Management groups in the form of a one-time $2,400 deposit to the City of National City administered Deferred Compensation Plan accounts of each incumbent within those groups; and WHEREAS, this one-time adjustment, to be provided in Fiscal Year 2016, does not increase or in any other way effect the City's unfunded pension liability (this form of compensation is non-PERSable), nor does it have any other long term fiscal implications. NOW, THEREFORE, BE IT RESOLVED that the City council hereby authorizes a one-time compensation stipend for members of the executive and management occupation groups in the form of a $2,400 deposit to the individual city of national city -administered deferred compensation plan accounts of each incumbent of said groups. BE IT FURTHER RESOLVED that the City Council hereby authorizes the establishment of fund appropriations for Deferred Compensation in the amount of $86,400 for this expense. PASSED and ADOPTED this 1s1 day of September2015. ATTEST: 11114 Al,. Fr dia e.aci ua Silva ity Attorney on Morrison, Mayor Passed and adopted by the Council of the City of National City, California, on September 1, 2015 by the following vote, to -wit: Ayes: Councilmembers Cano, Mendivil, Morrison, Rios. Nays: None. Absent: Councilmember Sotelo-Solis. Abstain: None. AUTHENTICATED BY: RON MORRISON Mayor of the City of National City, California ,, ,,e CI rk of the e City of National City, California By: Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2015-126 of the City of National City, California, passed and adopted by the Council of said City on September 1, 2015. City Clerk of the City of National City, California By: Deputy