HomeMy WebLinkAboutRes 21-23 Approving the adoption of a 457 benefit package with MissionSquare retirementWESTLAKE ACADEMY
RESOLUTION WA 21-23
A RESOLUTION APPROVING THE ADDITION OF A 457 DEFERRED
COMPENSATION PLAN TO THE EMPLOYEE BENEFIT PACKAGE,
ESTABLISHING THE ACADEMY'S 457 DEFERRED COMPENSATION PLAN
PROGRAM COORDINATOR, AND AUTHORIZING THE SUPERINTENDENT To:
ENTER INTO AN: AGREEMENT WITH MISSIONSQUARE RETIREMENT.
WHEREAS, Westlake Academy has employees rendering valuable services; and
WHEREAS, the establishment of a deferred compensation plan for such employees
serves the interests of Westlake Academy by enabling it to provide reasonable retirement
security for its employees, by providing increased flexibility in its personnel management
system, and by assisting in the attraction and retention of competent personnel; and
WHEREAS, Westlake Academy has determined that the establishment of a deferred
compensation plan to be administered by MissionSquare Retirement serves the above objectives;
and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
WESTLAKE ACADEMY:
SECTION 1: That, all matters stated in the recitals hereinabove are found to be true ar d
correct and are incorporated herein by reference as if copied in their entirety.
SECTION 2: That, the Board of Trustees of Westlake Academy, hereby approves the
decision to offer a 457 deferred compensation plan and that the HR Director shall be the
coordinator for this program; shall receive necessary reports, notices, etc. from MissionSquare
Retirement and is authorized to execute all necessary agreements incidental to the administration
of this plan.
SECTION 3: If any portion of this resolution shall, for any reason, be declared inv ali:d
by any court of competent jurisdiction, such invalidity shall not affect the remainingprovision s
hereof and the Board of Trustees hereby determines that it would have adopted .this Resolution
without the invalid provision.
SECTION 4: That this resolution shall. become effective from and after its date of
passage.
Resolution WA 21-23
Page I oft
PASSED AND APPRO UED ON THIS 25f1i DAY OF OCTOBER 2021.
ATTEST:
Todd Wood, Board Secretary
APPROV AS
J etfS. B rt o
School Attornev
FORM:
Stanton Lowly,
Laura Wheat, President
lam/ " Lwa--V',-
Amanda DeGan, Superinten ent
OF WEST
�O
TE X Pam'
Resolution. DNA 21-2
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