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A RESOLUTION AUTHORIZING THE CITY OF JONESBORO TO APPROVE THE ADOPTION AGREEMENT AND AMENDMENT ONE FOR THE CITY OF JONESBORO, ARKANSAS NON-UNIFORMED EMPLOYEES 457 (b) RETIREMENT SAVINGS PLAN AND TRUST
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WHEREAS, the City of Jonesboro, Arkansas, a municipality of the State of Arkansas, (the “Employer”) has previously established the City of Jonesboro, Arkansas, Non-Uniformed Employees 457(b) Retirement Savings Plan and Trust (the “Plan”); and
WHEREAS, Section 11.01 of the Plan allows the City, through appropriate action of the City Council, to amend the Plan at any time and from time to time; and
WHEREAS, the Employer desires to approve the Adoption Agreement amending the Plan eligibility rules to provide that uniformed police, fire department personnel and elected officials of the City of Jonesboro are no longer Excluded Employees; and
WHEREAS, the Adoption Agreement amends changing the name of the Plan to the City of Jonesboro 457(b) Plan; and
WHEREAS, this Amendment is effective on January 1, 2026.
WHEREAS, this Amendment provides that these excluded employees are now eligible to make pre-tax elective deferrals to the Plan without city matching contributions; and
WHEREAS, this Adoption Agreement does not amend or change the City of Jonesboro Non-Uniformed Employees 401(a) Defined Contribution Plan.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
Section 1: The City Council hereby approves and adopts the Adoption Agreement amending the Plan eligibility rules.
Section 2: The Mayor and City Clerk are hereby authorized to execute the Adopting Resolution and Amendment One and are authorized and directed to execute, file, record and deliver such documents and instruments and to take such other action as is necessary in order to implement and otherwise carry out the intent of this resolution.