KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 120912 Introduction Date: 10/18/2012
Type: Special Action Effective Date: 10/18/2012
Sponsor: COUNCILMEMBERS SHARP, JOHNSON, JAMES, JR., TAYLOR, REED, WAGNER, CURLS, FORD, DAVIS, MARCASON AND CIRCO
Title: Declaring the week of October 21-27, 2012, as “National Save for Retirement Week” in Kansas City, Missouri.

Legislation History
DateMinutesDescription
10/17/2012 Filed by the Clerk's office
10/18/2012 Adopted

View Attachments
FileTypeSizeDescription
120912.pdf Authenticated 1778K Authenticated

Printer Friendly Version

RESOLUTION NO. 120912

 

Declaring the week of October 21-27, 2012, as “National Save for Retirement Week” in Kansas City, Missouri.

 

WHEREAS, the Senate of the United States recently passed Resolution 555 designating October 21 through October 27, 2012, as “National Save for Retirement Week;” and

 

WHEREAS, Senate Resolution 555 calls on localities to observe National Save for Retirement Week through appropriate programs and activities with the goal of increasing the retirement savings and personal financial literacy of all people in the United States; and

 

WHEREAS, the City acknowledges that its existing defined benefit plans will not, by themselves, provide many of its employees with sufficient benefits to adequately fund their retirement; and

 

WHEREAS, the City understands the importance of, and need for, employees saving for their own retirement; and

 

WHEREAS, the City has long sponsored the Deferred Compensation Plan as a tax-advantaged retirement savings vehicle to assist employees in saving for retirement; and

 

WHEREAS, currently only about 48% of eligible City employees elect to contribute to the Deferred Compensation Plan; and

 

WHEREAS, the Board of Trustees of the Deferred Compensation Plan fully supports “National Save for Retirement Week” in order to encourage more employees to participate; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

That the Mayor and Council hereby declare the week of October 21-27, 2012, as “National Save for Retirement Week” in Kansas City, Missouri; and

 

BE IT FURTHER RESOLVED that this Resolution be spread upon the Minutes of the Council in testimony thereof and that a copy hereof be presented to Jason Beaman, JoAnn Bowman, Dan Grandcolas, Charlie Hull, Norman Larkey, Vincent Liberto, Robert Patrick, Christine Riederer, and Earnest Rouse with the objective of raising awareness about the importance of adequate retirement savings and the availability of employer-sponsored retirement plans, and imploring employees to participate in the Deferred Compensation Plan as a means of supplementing their future pension benefits.

 

____________________________________________