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RESOLUTION NO. 87- 148 <br />A RESOLUTION OF INDIAN RIVER COMM, FLORIDA AUTHORIZING ITS <br />EMPT-DYEES TO PARTICIPATE IN THE ICMA RETIREMENT CORPORATIONI'S <br />DEFERRED COMPENSATION PLAN; ADOPIION OF THE DEFERRED COMPENSATION <br />PLAN; ADOPTION OF THE DECLARATION OF TRUST; EXECUTION OF THE <br />TKLT AGREII=,* AND THE AFOINLT ENE OF THE DIRECIOR OF PERSONNEL <br />AS THE PLAN COORDINATOR. <br />WHEREAS, the County has employees rendering valuable services; and <br />WHEREAS, the establishment of a deferred compensation plan for such <br />employees will serve the interests of the County by enabling it to provide <br />reasonable retirement security for its employees by providing increased <br />flexibility in its personnel management system, and by assisting in the <br />attraction and retention of competent personnel; and <br />WHEREAS, the County has determined that the establishment of a <br />deferred compensation plan to be administered by the ICMA Retirement <br />Corporation will serve the above objectives; and <br />WHEREAS, the County desires that the investment of funds held under <br />its deferred compensation plan be administered by the ICMA Retirement <br />Corporation, as Trustee, with the understanding that such funds will be held by <br />the ICMA Retirement Trust, a trust established by public employers for the <br />purpose of representing the interests of such employers with respect to the <br />collective investment of funds held under their deferred compensation plans; <br />NOW THEREFORE BE IT RESOLVED that the County adopts the deferred <br />compensation plan, attached hereto as Appendix A, and appoints the ICMA <br />Retirement Corporation to serve as Administrator thereunder; and <br />BE IT FURTHER RESOLVED that the County hereby executes the ICMA <br />Retirement Trust, attached hereto as Appendix B; and <br />BE IT FURTHER RESOLVED that the County hereby adopts the trust <br />agreement, attached hereto as Appendix C, and appoints the ICMA Retirement <br />Corporation as Trustee thereunder, and directs the ICMA Retirement Corporation, <br />as Trustee, to invest all funds held under the deferred compensation plan <br />through the ICMA Retirement Trust as soon as is practicable; and <br />BE IT FURTHER RESOLVED that the Director of Personnel shall be the <br />coordinator for this program and shall receive necessary reports, notices, etc. <br />from the CMA Retirement Corporation as Administrator, and shall cast, on <br />behalf�of} a Employer, any required votes under the program. Administrative <br />dutles to carry out the Plan may �igned to the appropriate departments. <br />36 <br />