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boa 95 Pn,E 78 -7 <br />deemed compensation at the time of deferral for purposes of Social Security <br />coverage, retirement, pension, or other benefit program. <br />The statute requires the Board to adopt by ordinance the deferred <br />compensation plan; to designate the appropriate official to approve and <br />administer the plan (i.e., the Personnel Director) and to designate the <br />Personnel Director to make the determinations listed above. <br />Toward that end, on July 25, 1995 the Board of County Commissioners <br />authorized the advertisement of the following revision to Section 104.05, the <br />deferred compensation section of Chapter 104 dealing with personnel matters <br />in the Indian River County Code. <br />"Section 104.05. Deferred compensation. <br />.A dDeferred compensation plans, are ¢ONAIV <br />available throuchICMA Retirement <br />Corporation or the National Association of Counties, <br />It 0001510 on an optional basis to employees. This <br />program is a supplement to a retirement income and it <br />provides for a tax deferral on income contributed to the <br />plan. The director of personnel shall approve and <br />administer the plans, and make determination required <br />by F.S. 112.215(6)(b)." <br />RECOMMENDATION: <br />Approve the attached ordinance. <br />The Chairman opened the public hearing and asked if anyone <br />wished to be heard in this matter. There being none, he closed the <br />public hearing. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Tippin, the Board unanimously <br />adopted Ordinance No. 95-20 amending Section <br />104.05, Deferred Compensation, of Chapter 104 <br />of the Indian River County Code, to establish <br />a Deferred Compensation Plan through the <br />National Association of Counties and to <br />appoint the Director of Personnel to approve <br />and administer County Deferred Compensation <br />Plans and make determinations required by <br />Florida Statutes. <br />ORDINANCE NO. 95- 20 <br />AN ORDINANCE OF INDIAN RIVER COUNTY, FLORIDA, <br />AMENDING SECTION 104.05, DEFERRED <br />COMPENSATION, OF CHAPTER 104 OF THE INDIAN <br />RIVER COUNTY CODE, TO ESTABLISH A DEFERRED <br />COMPENSATION PLAN THROUGH THE NATIONAL <br />ASSOCIATION OF COUNTIES, AND TO APPOINT THE <br />DIRECTOR OF PERSONNEL TO APPROVE AND <br />ADMINISTER COUNTY DEFERRED COMPENSATION <br />PLANS, AND MAKE DETERMINATIONS REQUIRED BY <br />FLORIDA STATUTES, AND TO PROVIDE FOR <br />CODIFICATION, SEVERABILITY AND EFFECTIVE DATE. <br />30 <br />August 8, 1995 <br />