HomeMy WebLinkAboutMO #2685MUNICIPAL ORDER NO. 2685
A MUNICIPAL ORDER APPROVING A KENTUCKY DEFERRED COMPENSATION
JOINDER AGREEMENT TO PARTICIPATE IN THE KY 401(K) AND KY 457 PLAN AND
AUTHORIZING THE MAYOR TO EXECUTE ALL DOCUMENTS RELATED TO SAME
WHEREAS, the General Assembly of the Commonwealth of Kentucky has
enacted Sections 18A.230 -18A.275 of the Kentucky Revised Statutes authorizing the creation of
the Kentucky Public Employees' Deferred Compensation Authority Board of Trustees and the
establishment of the Kentucky Public Employees' Deferred Compensation Authority (KDC); and
WHEREAS, the Commonwealth by KDC sponsors the Kentucky Employees' 457
Deferred Compensation Plan and the Kentucky Public Employees' 401(k) Deferred
Compensation Plan which includes KDC's Deemed IRA Program (the Plans) for adoption by
local governmental political subdivisions and units; and
WHEREAS, the Board of Commissioners wishes to adopt and enter that certain
Joinder Agreement.
NOW, THEREFORE, BE IT ORDERED BY BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Commission hereby enters and adopts the Joinder
Agreement with KDC for participation in the 457 Plan and the 401(k) Plan for the benefit of the
City of Paducah's eligible employees.
SECTION 2. That the Mayor is hereby authorized and directed to execute the
Joinder Agreement with KDC, which authorizes the KDC to administer the Plans on behalf of
the City of Paducah, and to do all further acts to execute all further documents in writing, which
the authorized signatory determines to be necessary or desirable in order to effect this Municipal
Order.
SECTION 3. This Order shall
its adoption.
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indsay Paris City Clerk
Adopted by the Board of Commissioners December 15, 2022
Recorded by Lindsay Parish, City Clerk December 15, 2022
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fter the date of