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457(b) PLAN DOCUMENT <br />DEFERRED COMPENSATION PLAN <br />PREAMBLE <br />Adontion of Plan <br />The Indian River County BOCC Deferred Compensation Plan for Public Employees 457 <br />Governmental Plan and Trust (hereinafter "the Plan"), an eligible deferred compensation plan <br />within the meaning of Section 457(b) of the Internal Revenue Code of 1986, as amended <br />(hereinafter the "Code"), of a State or local government as described in Code Section <br />457(e)(1)(A), that meets the requirements of Code Section 401(a)(37), originally adopted by <br />Indian River County BOCC (hereinafter the "Employer") effective March 1, 1998 and hereby <br />amended effective as of September 29, 2022. <br />Pumose of Plan <br />The primary purpose of this Plan is to permit Employees of the Employer to enter into an <br />agreement which will provide for deferral of payment of a portion of his or her current <br />compensation until death, retirement, Severance from Employment, or other event, in accordance <br />with the provisions of the Code Section 457(b), with other applicable provisions of the Code, and <br />in accordance with the General Statutes of the State. <br />Status of Plan <br />It is intended that the Plan shall qualify as an eligible deferred compensation plan within the <br />meaning of Code Section 457(b) sponsored by an eligible employer within the meaning of Code <br />Section 457(e)(1)(A), i.e., a State, political subdivision of a State, or agency or instrumentality of <br />a State or political subdivision of a State. <br />Tax Conseauences of Plan <br />The Employer does not and cannot represent or guarantee that any particular federal or State <br />income, payroll, or other tax consequence will occur by reason of participation in this Plan. A <br />Participant should consult with his or her own counsel or other representative regarding all tax or <br />other consequences of participation in this Plan. <br />Specimen 457(b) Plan Document <br />Deferred Compensation Plan <br />