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| Related Area: | | Administration | | Personnel | |
| Related Elkins Municipal Code (EMC): | |
| Related Year: | | 2019 | |
Ordinance #: 2019-07
CITY OF ELKINS, WASHINGTON COUNTY, ARKANSAS
A RESOLUTION ALTERING REQUIREMENTS OF THE NATIONWIDE RETIREMENT SOLUTIONS DEFERRED COMPENSATION PROGRAM IN THE CITY OF ELKINS, ARKANSAS.
WHEREAS, the City of Elkins has established a Deferred Compensation Plan (“Plan”) to be made available to all eligible city employees, elected officials, and independent contractors pursuant to applicable law permitting such Plans; and
WHEREAS, the City Council as determined that certain aspects of the Plan should be altered in order to more effectively deliver the benefits of the program to the officials and employees of the City of Elkins.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF ELKINS, ARKANSAS:
Section 1: The City Council hereby amends The Nationwide Retirement Solutions
Deferred Compensation Program (Plan) and its attendant investment options by changing the eligibility requirements of the Plan. The Plan eligibility requirements shall now permit the following:
- any eligible employee, officer or official shall be permitted to contribute to the Plan after serving at the City of Elkins for ninety (90) days; and
- any eligible and participating employee, officer or official shall receive matching contributions of up to five percent (5%) of their gross wages only after serving the City of Elkins for one (1) year.
PASSED AND APPROVED by the City Council for the City of Elkins, Arkansas, this 15th day of May ,2019.
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