DATE: May 31, 2017
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kevin Townsel, Human Resources Director
SUBJECT:
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Consideration of Resolution 2017-40 To Be Entitled:" A Resolution Of The City Of Franklin, Tennessee Relating To ICMA Regarding Participation For Designated Employees Of The City" (06/27/17 WS)
body
Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning a needed job title update of the previous resolution from May 23, 1995. The previous resolution listed the “Personnel Director” as the coordinator for our deferred compensation plan. For our current Director to be able to sign off on plan documents, ICMA requires us to update the resolution to state the “’Human Resources Director’ shall be the coordinator for this program.”
Background
The original resolution was passed on May 23, 1995 by the Franklin Board of Mayor and Alderman. At the time the resolution was passed, the title of our plan coordinator was “Personnel Director”. This person receives all necessary reports, notices, etc. from the ICMA Retirement Corporation or the Retirement Trust; this person is responsible for carrying out administrative duties of the plan and is authorized to execute all necessary agreements with the ICMA Retirement Corporation incidental to the administration of the plan.
Financial Impact
No financial impact.
Recommendation
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Staff recommends passing the resolution so our Human Resources Director can coordinate our deferred compensation plan.