RESOLUTION NO. 2012-2
AUTHORIZING TOWN COUNCIL PRESIDENT TO CONTRACT WITH NATIONWIDE INVESTMENT ADVISORS, LLC TO ADMINISTER AND PROFESSIONALLY MANAGE THE PLAN AND INDIVIDUAL ROTH ACCOUNTS
WHEREAS, the Town Council for the Town of Leo-Cedarville previously adopted a deferred compensation plan pursuant to Section 457 of the Internal Revenue Code, which established a 10% employer match for all distributions by eligible salaried employees into the plan; and
WHEREAS, the Town Council has resolved to amend the 457 Plan to allow for post-tax Roth contributions by individual plan participants; and
WHEREAS, the Town requires professional assistance of a qualified third party administrator (“TPA”) to provide the administration and recordkeeping of the 457 plan and the individual Roth accounts; and
WHEREAS, the Town has selected Nationwide Investment Advisors, LLC as its TPA.
NOW THEREFORE, be it resolved by the Town Council of the Town of Leo- Cedarville, Indiana that:
The Town Council President and Town Manager are hereby authorized and directed to execute an administrative agreement with Nationwide Investment Advisors, LLC, wherein Nationwide shall provide necessary administrative and recordkeeping services to the plan and shall assist in the preparation of necessary plan documents to satisfy the requirements of 26 U.S.C. §402A and any other applicable provisions of the Internal Revenue Code.
Passed and adopted by the Town Council of the Town of Leo-Cedarville, Indiana on this 3rd day of January , 2012.
| John Clendenen
| Paul Steffens