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DEFFERED CON(P\Remove Empower as Service Provider and Reliance Trust as Trustee of Town Plan—8-9-2021
RESOLUTION AUTHORIZING REMOVAL OF RELIANCE TRUST
COMPANY AS TRUSTEE, APPOINTMENT OF STATE STREET DANK
AND TRUST COMPANY AS SUCCESSOR TRUSTEE, REMOVAL OF
EMPOWER RETIREMENT AS SERVICE PROVIDER AND
APPOINTMENT OF NATIONWIDE AS SUCCESSOR SERVICE
PROVIDER OF TOWN DEFERRED COMPENSATION PLAN
RESOLUTION NO.: ,2021
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, by Resolution No.: 137,2021, the Queensbury Town Board authorized
adoption of the Deferred Compensation Plan for Employees of the State of New York and Other
Participating Public Jurisdictions for voluntary participation of all eligible Town employees, and
WHEREAS, the Town Board wishes to authorize the removal of Reliance Trust
Company as current Trustee and the appointment of State Street Bank and Trust Company as
Successor Trustee of the Town of Queensbury's Deferred Compensation Plan, and \
WHEREAS, the Town Board also wishes to authorize the removal of Empower as the
Town's Service Provider and the appointment of Nationwide as Successor Service Provider of
the Town of Queensbury's Deferred Compensation Plan,
NOW, THEREFORE, BE IT
RESOLVED, .that the Queensbury Town Board hereby authorizes the removal of
Reliance Trust Company as current Trustee and the appointment of State Street Bank and Trust
a�
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Company as Successor Trustee of the Town of Queensbury's Deferred Compensation Plan
effective October 11, 2021, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes the removal of Empower as the
Town's Service Provider and the appointment of Nationwide as Successor Service Provider of
the Town of Queensbury's Deferred Compensation Plan, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
Town Budget Officer and/or other appropriate Town officials to take any such actions and
execute such documentation as may be required to effectuate all terms of this Resolution.
Duly adopted this 9`"day of August, 2021, by the following vote:
AYES
NOES
ABSENT:
A TRUE RECORD
BY:
JOHN F. STROUGH,III, TOWN SUPERVISOR
TOWN OF QUEENSBURY-AUTHORIZED OFFICER
ACTING ON BEHALF OF THE PLAN
ATTEST:
WITNESS (PRINTED NAME)
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,
r
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.
Duly adopted this 19t"day of April, 2021, by the following vote:
AYES : Mr. Metivier, Mr. Ferone, Mr. McNulty, 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: