8/19/1981 - Laserfiche WebLink

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TO: The Honorable Members of DATE: the Board of County Commissioners jl,)J)t% FROM: Neil A. N e 1 s o n County Administrator August 13, 1981 FILE: SUBJECT: Deferred Compensation Plan REFERENCES: At it's meeting of June 17, 1981, the Board approved the Administration's recommendation to authorize participation in the deferred compensation program sponsored by -the National Association of Counties and called for a public hearing to consider adoption of an appropriate ordinance establishing the plan. The ordinance has been prepared by the County Attorney and is now before the Board for appropriate action. Prior to submitting it's original proposal, the Administration received and reviewed information regarding several deferred compensation plans. Since the meeting of June 17, 1981, we have received and reviewed information from additional deferred compensation sponsorsi Based upon these reviews, the Administration believes the NACO Plan provides the best overall package to those Indian River County employees most likely to participate in a program of this.type. Accordingly, the Administration recommends the Board of County Commissioners adopt the proposed ordinance and authorize implementation of the NACO Deferred Compensation Program. THE BOARD THEN DISCUSSED THE PROPOSED ORDINANCE. THEY ALL AGREED THEY DID NOT WANT TO BE PUT IN THE POSITION OF CHOOSING THE COMPANY FOR THIS PROGRAM. CHAIRMAN LYONS FELT THE BOARD SIMPLY WANTED TO MAKE THIS PLAN AVAILABLE AND HAVE THE DEFERRED COMPENSATION COMMITTEE STUDY IT AND MAKE THE CHOICE, ATTORNEY COLLINS COMMENTED THAT THE BOARD CAN STRUCTURE THE ORDINANCE TO MAKE THE SERVICE AVAILABLE TO ITS EMPLOYEES, WITH THE FINANCE DEPARTMENT WORKING OUT THE DEDUCTIONS. HE CONTINUED THAT THE ADMINISTRATOR WOULD BE THE DIRECT REPRESENTATIVE OF THE COUNTY IN PUTTING THE PLAN TOGETHER.