R99-200 AUTHORIZING SERVICE AGREEMENT

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�` ,,� , � , RESOLUTION NO. R99-200 I A TH RIZING SERVICE AGREEMENT RESOLUT ON U O WITH ICMA RETIREMENT CORPORATION FOR SECTION 401 MONEY PURCHASE PLAN AND TRUST WHEREAS, the City of Decatur, Illinois has employees rendering valuable services; and WHEREAS, the establishment of a money purchase retirement plan benefits employees by providing funds for retirement and funds for their beneficiaries in the event of death; and WHEREAS, the City of Decatur, Illinois desires that its money purchase retirement plan be administered by the ICMA Retirement Corporation and that the funds held such plan be invested in the ICMA Retirement Trust, a trust established by public employers for the collective inveshnent of funds held under their retirement and deferred compensation plans. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That the City of Decatur, Illinois hereby establishes a money purchase retirement plan (the "Plan") in the form of the ICMA Retirement Corporation Governmental Money Purchase & Trust, pursuant to the specific provisions of the Adoption Agreement (executed copy attached hereto). The Plan shall be maintained for the exclusive benefit of eligible employees and their beneficiaries. Section 2. That the City of Decatur, Illinois hereby executes the Declaration of Trust of the ICMA Retirement Trust, and attached hereto, intending this execution to be operative with respect to any retirement or deferred compensation plan subsequently established by the City of Decatur, Illinois, if the assets of the plan are to be invested in the ICMA Retirement Trust. Section 3. That the City of Decatur, Illinois hereby agrees to serve as trustee under the Plan and to invest funds held under the Plan in the ICMA Retirement Trust. Section 4. That the City Treasurer of the City of Decatur, Illinois shall be the coordinator for the Plan; shall receive reports, notices, etc. from the ICMA Retirement Corporation or the ICMA Retirement Trust; shall cast, on behalf of the City of Decatur, Illinois, any required votes under the ICMA Retirement Trust; may delegate any administrative duties relating to the Plan to appropriate departments.