CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the organization of City government; transferring the administration of the City of Seattle Voluntary Deferred Compensation Plan and Trust from the Seattle Department of Human Resources to Seattle Retirement; authorizing administrative actions necessary to carry out the intent of this ordinance; and amending Sections 4.36.070 and 4.36.505 of the Seattle Municipal Code.
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WHEREAS, the Executive Director and staff of the Seattle City Employees' Retirement System administer the City's defined benefit retirement plan providing a pension benefit to eligible City employees and their beneficiaries; and
WHEREAS, the Seattle Human Resources Department currently administers the City of Seattle Voluntary Deferred Compensation Plan and Trust, a defined contribution plan that City employees may utilize to defer wages on a pre-tax basis to save for retirement; and
WHEREAS, consolidating the City's administrative functions of both the Seattle City Employees' Retirement System and the City of Seattle Voluntary Deferred Compensation Plan and Trust to a single department is expected to achieve resource efficiencies and create a more comprehensive service for employees planning for their retirement; and
WHEREAS, consolidating functions is best achieved by transferring the administration of the City of Seattle Voluntary Deferred Compensation Plan and Trust from the Seattle Department of Human Resources to Seattle Retirement designated pursuant to this ordinance; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. The function of administering the City of Seattle Voluntary Deferred Compensation Plan and Trust shall be transferred from the Seattle Department of Human Resources to Seattle Retirement designated under this ordinance. All authorities, contracts, obligations, equipment, records, assets, liabilities, appropriations, budget authority,...
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