[Adopted 5-24-1999]
A.
The Town of Athens wishes to adopt 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.
B.
The Town of Athens is a local public employer eligible
to adopt the plan pursuant to § 5 of the State Finance Law.
C.
The Town of Athens has reviewed the plan established
in accordance with Section 457 of the Internal Revenue Code and § 5
of the State Finance Law of the State of New York.
D.
The purpose of the plan is to encourage employees
to make and continue careers with the Town of Athens 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.
A.
The Town of Athens hereby adopts the plan for the
voluntary participation of all eligible employees.
B.
The appropriate officials of the Town of Athens are
hereby authorized to take such actions and enter such agreements as
are required or necessary for the adoption, implementation and maintenance
of the plan.
C.
The Administrative Services Agency is hereby authorized
to file copies of this article and other required documents with the
President of the State of New York Civil Service Commission.
