Explanation
The City desires to adopt a 457 deferred compensation plan for the Fraternal Order of Police of the City of Columbus.
After implementation, there will be no additional costs to the City.
Title
To adopt a 457 deferred compensation plan for the Fraternal Order of Police of the City of Columbus; and to declare an emergency.
Body
WHEREAS, Ohio Revised Code Section 148.04 allows for the creation of Deferred Compensation Plans; and
WHEREAS, a copy of the uniform plan document for the Program has been provided to the City; and
WHEREAS, the City of Columbus is an employer as defined in R.C. 148.01(A) and thereby may adopt a Plan under the Program; and
WHEREAS, the City desires to adopt a Plan under the Program for participation by the Fraternal Order of Police and other eligible employees of the City of Columbus, and
WHEREAS, an emergency exists in the usual daily operation of the City in that it is immediately necessary to adopt said Plan so that participation can begin at the earliest possible date, thereby preserving the public health, peace, property, safety, and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. The City hereby adopts a Plan under the Program, and shall properly contract with any Fraternal Order of Police member and other eligible employees of the City of Columbus, Ohio who desires to participate in the Plan. The City's Plan shall be the Plan as promulgated by and as amended from time to time by the Fraternal Order of Police of Columbus, Ohio.
Section 2. The Fraternal Order of Police is hereby authorized to administer the Plan under the Program, and do all things necessary or proper for the administration of the Plan, consistent with the Enabling Statutes and all the Rules and Regulations promulgated by the Fraternal Order of Police, whether by the Ohio Administrative Code or otherwise, and consistent with the Program Adoption Agreement executed by the City.
Section 3. The City Auditor is hereby appointed the Responsible Official and is authorized and directed by the Governing Body to execute the Program Adoption Agreement.
Section 4. Consistent with the Program Adoption Agreement and the Rules and Regulations promulgated by the Fraternal Order of Police, the proper officials, officers, employees, and agents of the City are authorized to provide the Fraternal Order of Police with any information they may properly require for the administration of the Plan under the Program.
Section 5. It is found and determined that all formal actions of this Council concerning and relating to the adoption of this Ordinance were adopted in an open meeting of this Council, and that all deliberations of this Council and any of its committees which results in such formal actions were in meetings open to the public, in compliance with all legal requirements, including Section 121.22 of the Ohio Revised Code.
Section 6. For the reasons stated in the preamble hereto which are made a part hereof, this ordinance is hereby declared to be an emergency measure and will take effect and be in force from and after passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.