137.2021 Adoption of State of NY Deferred Compensation Plan
RESOLUTION AUTHORIZING ADOPTION OF THE
STATE OF NEW YORK DEFERRED COMPENSATION PLAN
RESOLUTION NO.: 137, 2021
INTRODUCED BY: Mr. Timothy McNulty
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. George Ferone
WHEREAS, the Town of Queensbury wishes to adopt the Deferred Compensation Plan for
Employees of the State of New York and Other Participating Public Jurisdictions (the “Plan”) for
voluntary participation of all eligible employees, and
WHEREAS, the Town of Queensbury is a local public employer eligible to adopt the Plan
in accordance with the New York State Finance Law Section 5, and
WHEREAS, the Town of Queensbury has reviewed the Plan established in accordance
with the Internal Revenue Code Section 457 and the New York State Finance Law Section 5, and
WHEREAS, the purpose of the Plan is to encourage employees to make and continue
careers with the Town of Queensbury by providing eligible employees with a convenient and
tax-favored method of saving on a regular and long-term basis and thereby provide for their
retirement,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes adoption of the
Deferred Compensation Plan for Employees of the State of New York and Other Participating
Public Jurisdictions (the “Plan”) for the voluntary participation of all eligible employees, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the appropriate Town
officials to take such actions and enter into and execute such agreements as are required or
necessary for the adoption, implementation, and maintenance of the Plan, and
BE IT FURTHER,
RESOLVED, that the Administrative Services Agency is hereby authorized to file copies
of this Resolution and other required documents with the President of the State of New York
Civil Service Commission.
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Duly adopted this 19 day of April, 2021, by the following vote:
AYES : Mr. Metivier, Mr. Ferone, Mr. Mc Nulty, Mr. Strough
NOES : None
ABSENT:Mr. Freer
I hereby certify that the Town of Queensbury is a local public employer within the
meaning of State Finance Law Section 5 and that adoption of the Plan has received all required
approvals of any local governing body or officer and otherwise complies with local law.
Witnesseth by: TOWN OF QUEENSBURY
______________________________ ___________________________________
JOHN F. STROUGH, III
TOWN SUPERVISOR
Consent of The Deferred Compensation Board
of the State of New York to Local Public
Employer’s Participation
By: ___________________________________