HomeMy WebLinkAboutR22-571RESOLUTION NO. R22-571
RESTATEMENT OF QUALIFIED RETIREMENT PLAN
The City of Plainview (the "Employer") does hereby approve the following regarding its
401(a) Retirement Plan:
WHEREAS, the Employer maintains the Employee Recruitment and Retention
Program for the City of Plainview (the "Plan") for the benefit of eligible employees;
WHEREAS, the Employer is restating the above -referenced Plan to comply with
the requirements of the 2017 IRS Cumulative List (IRS Notice 2017-37) the American
Taxpayer Relief Act of 2012, the Tax Cuts and Jobs Acts of 2017 and other applicable
guidance (collectively referred to herein as the Cycle 3 restatement); and
WHEREAS, the Employer has appointed the City Manager to sign all documents
on behalf of the Board of the Employer;
NOW, THEREFORE, BE IT RESOLVED that the Employer hereby adopts the Plan as
the complete Cycle 3 restatement of the prior Plan, to be effective on 6-30-2022;
RESOLVED FURTHER that the Employer will maintain a copy of the restated Plan, as
approved herein, along with a copy of the prior Plan, in its files, and that its third party
administrator, TCG Administrators, LP, will also maintain such copies for the Employer;
RESOLVED FURTHER that the Employer will act as administrator of the Plan and will
be responsible for performing all actions necessary to carry out the administration of the
Plan. The Employer may designate any other person or persons to perform the actions
necessary to administer the Plan; and
RESOLVED FURTHER that Plan participants shall be provided with a summary of the
Plan provisions within a reasonable period of time following the adoption of the restated
Plan.
PASSED AND APPROVED this 12th day of July, 2022.
Susan Blackerby, Mayor Pro Terri/
ATTEST:
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Belinda HinojoLitity Secretary
Resolution R22-571 Page 1 of 1