Broken Arrow City Council
Meeting of: 10-06-2015
To: Mayor and City Council
From: Office of the City Manager
Title:
title
Approval of and authorization to execute an ICMA Retirement Corporation Governmental Money Purchase Plan & Trust Adoption Agreement
End
Background:
On August 4, 2015, the City Council approved an employment agreement with City Manager, Michael L. Spurgeon. This agreement provides for a contribution of 12% of Mr. Spurgeon’s base salary into a qualifying retirement plan. Mr. Spurgeon has selected the ICMA City Manager Retirement Plan. In order to meet the obligations set forth in the employment agreement, the plan’s adoption agreement must be amended to allow for a 12% contribution rate.
Cost: None
Prepared By: Russell M. Gale, Human Resources Director
Reviewed By: Legal Department
Assistant City Manager
Approved By: Michael L. Spurgeon, City Manager
Attachments: ICMA Adoption Agreement
Recommendation:
To approve the ICMA Retirement Corporation Governmental Money Purchase Plan & Trust Adoption Agreement and authorize its execution.