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BOOK 88 PAGE 658 <br />DEFERRED COMPENSATION <br />Administrator Chandler presented the following memo dated <br />January 19, 1993: <br />To: James Chandler, Date: January 19, 1993 <br />County Administrator <br />From: Jack Price, PersonnelQ�_L Sub: Deferred Compensation <br />. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . <br />Indian River County has provided a deferred compensation plan (aka <br />"457 plan") since early 1988 through -The International City <br />Management Association Retirement Corporation (ICMA). Currently 46 <br />employees are participating in this plan through payroll deduction. <br />Costs to Indian River County are limited to those resulting from <br />processing the deductions and distributing information about the <br />plan. <br />In October, 1992 ICMA asked that the agreement be modified and <br />updated as detailed in the attached information. Please recommend <br />that the Board of County Commissioners authorize the Chairman to <br />proceed with executing this contract for Indian River -County. <br />Thanks for -your assistance. -- <br />Administrator Chandler explained that this is a renewal of the <br />deferred compensation plan agreement with The International City <br />Management Association Retirement Corporation (ICMA). Although the <br />wording was changed somewhat, there were no material changes to the <br />agreement. Employee participation in the plan is strictly <br />voluntary. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Adams, the Board unanimously approved <br />the modifications and renewal of the contract with <br />The International City Management Association <br />Retirement Corporation on the deferred compensation <br />plan, as recommended by staff. <br />CONTRACT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />32 <br />