HomeMy WebLinkAboutMINUTES - 02042014 - C.57RECOMMENDATION(S):
APPROVE and AUTHORIZE the County Administrator, or designee, to execute a contract extension with Mass
Mutual Financial Group for administrative services for the Internal Revenue Code Section 457 Deferred
Compensation Plan. The contract extension will be for the period of February 1, 2014 through March 31, 2014.
FISCAL IMPACT:
The program is funded by fees charged to employee participants. There is no fiscal impact beyond over-head
administrative support costs.
BACKGROUND:
At their meeting on September 24, 2013, the Board of Supervisors directed the extension of the current
administrative services contract with Mass Mutual Financial Services for the period of January 1, 2014 through
January 31, 2014 to allow the County and the Vendor the time necessary to complete contract negotiations and
investment review.
The County and the vendor are continuing this negotiation and review process.
CONSEQUENCE OF NEGATIVE ACTION:
As of February 1, 2014, the Contra Costa County Deferred Compensation Plan would not have a Plan Administrator.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 02/04/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor
Contact: Christine Penkala, County Benefits
Manager (925) 335-1747
I hereby certify that this is a true and correct copy of an action taken and entered on the
minutes of the Board of Supervisors on the date shown.
ATTESTED: February 4, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: Chris Heck, Deputy
cc: Robert Campbell, Auditor-Controller
C. 57
To:Board of Supervisors
From:David Twa, County Administrator
Date:February 4, 2014
Contra
Costa
County
Subject:Contract Extension with Mass Mutual Financial Group for Administrative Services for the Deferred Compensation
Plan
CHILDREN'S IMPACT STATEMENT:
None.