HomeMy WebLinkAboutBy-law 2160/86THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NO, 2160/86
Being a by-law to establish a deferred compen-
sation employee benefit plan.
WHEREAS, in the common interest of the Corporation of the Town of Pickering and
certain of its employees, it is deemed desirable that the Town adopt a deferred com-
pensation employee benefit plan for the benefit of employees of the Town~
NOW THEREFORE, the Council of the Corporation of the Town of Pickering HEREBY
ENACTS AS FOLLOWS:
A deferred compensation employee benefit plan is hereby created for the
benefit of employees of the Town, such plan to be known as the Deferred
Compensation Plan, details of which are set forth in the form of a Trust
Agreement attached hereto as Schedule A.
Investors Group Trust Co. l,td., is hereby nominated, constituted and
appointed as Trustee to administer and carry out the terms of the De-
ferred Compensation Plan, with the power, duties and responsibilities set
forth in the form of a Trust Agreement attached hereto as Schedule A.
The Mayor and Clerk are hereby authorized and directed to sign and
execute any documents which may be necessary in order to put the
Deferred Compensation Plan into full operation and effect, including but
not necessarily limited to, a Trust Agreement in the form attached hereto
as Schedule A.
4. Schedule A hereto shall form part of this by-law.
5. This by-law shall come into force and be effective from and after
February 17, 1986.
BY-LAW read a first, second and third time and finally passed this 17th day of
February, 1986.
/Bruce Taylor, Cler.~
Schedule A
to By-law 2160/86
Page i of 2
GROUP TRUST CO. LTD.
280 Bro.dwly, Winnipeg, Minltob. R3C 3B6
EMPLOYEE BENEFIT PLAN
TRUST AGREEMENT
19
OF THE I*IRST PAR[
INVE,~TOR~ GROUP TRLIST CO. LTD,
(hgrclnafter c~llcd thc "l'ruslge')
OF THE SECOND PART
ARTICLE VII. VESTING
ARTICLE VIII. ELIGIBILITY
ARIICLE XI, pAYMENT O1' PI.AN BI.'NFI-IT.N
Schedule A
to By-law 2160/86
Page 2 of 2
I%VLNI(}RS GROUP 1RUST C'O. I II).