Fiscal Note
No fiscal impact.
Title
Creating Sec. 33.27(2)(d) of the Madison General Ordinances to establish by ordinance the Deferred Compensation Committee.
Body
DRAFTER'S ANALYSIS: The Deferred Compensation Committee has operated pursuant to Common Council resolutions and Mayoral memoranda. This ordinance codifies the existence of the Deferred Compensation Committee in the Madison General Ordinances.
*********************************************************************************** The Common Council of the City of Madison do hereby ordain as follows:
Subdivision (d) entitled “Deferred Compensation Committee” of Subsection (2) entitled “Quasi- Committees” of Section 33.27 entitled “Staff Committees” of the Madison General Ordinances is created to read as follows:
“(d) Deferred Compensation Committee. There is hereby established the Deferred Compensation Committee (DCC) composed of seven (7) employees of the City of Madison to include the following employees or designees: Human Resources Director; Treasurer; Comptroller; City Attorney and three (3) additional employees chosen by the Human Resources Director. The DCC is charged with the duty to make and implement on behalf of the City all necessary decisions relating to the 457(b) Deferred Comp...
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