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TO: BOARD OF SUPERVISORS
Contra
FROM: Harry D . Cisterman, Director of Personnel CCoo to
DATE: January 17 , 1990 County
SUBJECT: Amendment of 457 Deferred Compensation Plan
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
Recommendation :
Adopt amended County Deferred Compensation Plan established under
Section 457 of the Internal Revenue Code.
Background :
The County's Deferred Compensation Plan requires an amendment to pro-
vide participants an "interest only" payout option upon termination or retire-
ment. This amendment incorporates the Deferred Compensation Plan as approved in
Board Resolutions 87/687 and 88/407.
This amendment is necessary to allow The Hartford to administer the
County's Deferred Compensation Plan in accordance with the regulations
established under Section 457 of the Internal Revenue Code.
Fiscal Impact:
None
An exact copy of the County's amended Deferred Compensation Plan Document is
available in the Clerk of the Board's office for review.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION OF BOARD ON APPROVED AS RECOMMENDED + OTHER
VOTE OF SUPERVISORS
_ , UNANIMOUS (ABSENT ) 1 HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
originating dept : Personnel Benef-itsOF SUPERVISORS ON THE DATE SHOWN.
JAN 3 0 1990
CC: County Administrator ATTESTED
Auditor—Controller Phil Batchelor,Clerk of the Board of
County Counsel Supervisors and County Administrator
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