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lJ <br /> CONSENT <br /> INDIAN RIVER COUNTY <br /> MEMORANDUM <br /> TO: Joseph Baird <br /> County Administrat <br /> orFROM: Colleen Peterson <br /> Human Resources Manager <br /> DATE: March 6, 2013 <br /> SUBJECT: 457 Deferred Compensation Loan Program <br /> Background <br /> The County offers to its employees the opportunity to participate in 457 deferred compensation plans. <br /> Employees have requested that they be able to obtain loans from their Nationwide Retirement Solutions <br /> deferred compensation accounts,and we would like to amend the plan documents so that they can. At the <br /> present time, employees can only access their funds if they leave County employment or if they <br /> experience a financial hardship. <br /> Recommendation <br /> r... Staff recommends the Board authorize amending the plan document with Nationwide Retirement <br /> Solutions so that employees may obtain loans from their 457 deferred compensation accounts. <br /> Attachment <br /> APPROVED FOR AGENDA: <br /> J f7d Lj-%(7 A A Z I <br /> -3is l3 <br /> seph Af. Baird, County Administrator Date <br /> Approval Date <br /> Admin. 9j <br /> -Legal 6-t3 <br /> -Budget b 13 <br /> Dept. -6-13 <br /> Risk M mt. <br /> 27 <br />