...Title
SECURE 2.0 Act Amendments to Deferred Compensation, PTC and 401(a) Plans.
...Recommendations
(a) Adopt a resolution approving an amendment to the Basic Plan Document for the Deferred Compensation Plan to comply with the mandatory and optional SECURE 2.0 Act and authorizing the City Manager or her designee to execute the amended Basic Plan Document and other documents as necessary to administer the Deferred Compensation Plan set forth in Chapter 3.48 of the San José Municipal Code.
(b) Adopt a resolution approving an amendment to the Basic Plan Document for the PTC Plan to comply with the SECURE 2.0 Act and authorizing the City Manager or her designee to execute the amended Basic Plan Document and other documents as necessary to administer the PTC Plan set forth in Chapter 3.50 of the San José Municipal Code.
(c) Adopt a resolution approving an amendment to the Basic Plan Document for the Defined Contribution Plan for Unit 99 Employees to comply with the SECURE 2.0 Act and authorizing the City Manager or her designee to execute the amended Basic Plan Document and other documents as necessary to administer the Defined Contribution Plan for Unit 99 Employees set forth in Chapter 3.49 of the San José Municipal Code.
CEQA: Not a Project, File No. PP17-010, City Organizational and Administrative Activities resulting in no changes to the physical environment. (Human Resources)