Explanation
The City desires to adopt a 457 deferred compensation plan by the Ohio Association of Professional Fire Fighters Board of Trustees for the participation by "eligible union member employees" of the City of Columbus.
After implementation, there will be no additional costs to the City.
Title
To adopt a 457 deferred compensation plan by the Ohio Association of Professional Fire Fighters Board of Trustees for the participation by "eligible union member employees" of the City of Columbus; and to declare an emergency.
Body
WHEREAS, Ohio Revised Code Section 148.04 allows for the creation of the Ohio Association of Professional Fire Fighters Deferred Compensation Board (the Board) and establishes the Ohio Association of Professional Fire Fighters 457 Deferred Compensation Plan (the Program); 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 of "eligible union member employees" 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 "eligible union member employees"; 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 "eligible union member employee" who desires to participate in the Plan. The City's Plan shall be the Uniform Plan as promulgated by and as amended from time to time by the Board.
Section 2. The Board is hereby authorized to administer the Plan under the Program, and do all things necessary or proper for the administration of ...
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