A Resolution Authorizing AMENDING RESOLUTION #744-98 OF THE COLUMBUS CONSOLIDATED GOVERNMENT 457
DEFERRED COMPENSATION PLAN "PLAN DOCUMENT" TO AUTHORIZE THE CITY MANAGER TO
SIGN AMENDMENTS TO THE PLAN DOCUMENT FOR DEFERRED COMPENSATION. The changes
are effective JANUARY 1, 2002. whereas, THE ECONOMIC GROWTH TAX RELIEF AND RECONCILIATION ACT (EGTRRA) OF 2001 allow
certain provisions to be adopted by the "CCG" 457 DEFERRED COMPENSATION PLAN
"PLAN DOCUMENT". The adopted changes are reflected below:
a) Elective Deferral and Catch-Up Limits; Repeal of Coordination of Plans
b) Additional Contributions for Participants Age 50 and Over
c) Flexible 457 Distributions; Required Minimum Distributions
d) In-Service Transfers for purchase of Defined Benefit Plan Service Credits
e) Rollovers from Employer Sponsored Plans and IRAs
f) Qualified Domestic Relations Orders (QDROs) as required under section
414(p)(11)
whereas,
Sign amendments to the Plan Document for Deferred Compensation. That
resolution # 744-98 of the Columbus Consolidated Government "Plan Document" is
in compliance with the Internal Revenue Code, pursuant to section 457 Deferred
Compensation Plans as enacted by the Economic Growth and Tax Relief and
Reconciliation Act of 2001, is hereby amended. A copy of the amended plan
document will be on file in the Clerk of Council's office.
Introduced at a regular meeting of the Council of Columbus, Georgia, held the 18th day of December and adopted at said meeting by the affirmative vote of members of said Council.
No attachments for this document.