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K0, <br />CONSENT <br />INDIAN RIVER COUNTY <br />MEMORANDUM <br />TO: Jason Brown <br />County Administrator <br />FROM: Suzanne Boyll <br />Human Resources Director <br />DATE: October 4, 2022 <br />SUBJECT: Adoption of Plan Documents Related to the Award of RFP 2022040 —457(b) <br />Deferred Compensation Plan Recordkeeping Services to Lincoln Financial <br />Services <br />BACKGROUND: <br />At its May 3, 2022 meeting, the Board of County Commissioners awarded RFP 2022040 to Lincoln <br />Financial Services and authorized the County to enter into an agreement for recordkeeping <br />services with Lincoln Financial Services for the County's 457 (b) Deferred Compensation Plan. <br />The plan transition is underway and the associated documents related to the plan were signed by <br />the County Administrator at the end of September 2022, during the Chairman's absence. <br />Chairman of the Deferred Compensation Committee and Clerk of the Court and Comptroller, <br />Jeffrey Smith, has been integrally involved in the plan transition as well as the other committee <br />members. <br />The following plan documents are submitted for adoption by the Board. <br />• Indian River County BOCC Deferred Compensation Plan for Public Employees 457 <br />Governmental Plan and Trust effective September 29, 2022 <br />• Trust Agreement between Indian River County BOCC and Lincoln Financial Group Trust <br />Company <br />• Recordkeeping Service Agreement between Lincoln Retirement Services Company, LLC and <br />Indian River County BOCC effective September 29, 2022 <br />• Investment Advisory Services Agreement between Morningstar Investment Management <br />LLC and Plan Sponsor (Indian River County BOCC) <br />Copies will be maintained in the Clerk's office as well as Human Resources Department. <br />RECOMMENDATION: <br />Staff respectfully requests the Board adopt the plan documents associated with the Award of <br />RFP2022040 to serve as record -keeper for the 457(b) Deferred Compensation Plan. <br />27 <br />