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457(b) PLAN DOCUMENT DEFERRED COMPENSATION PLAN PREAMBLE Adoption of Plan The Indian River County BOCC Deferred Compensation Plan for Public Employees 457 Governmental Plan and Trust (hereinafter "the Plan"), an eligible deferred compensation plan within the meaning of Section 457(b) of the Internal Revenue Code of 1986, as amended (hereinafter the "Code"), of a State or local government as described in Code Section 457(e)(1)(A), that meets the requirements of Code Section 401(a)(37), originally adopted by Indian River County BOCC (hereinafter the 'Employer") effective March 1, 1998 and hereby amended effective as of September 29, 2022. Pumose of Plan The primary purpose of this Plan is to permit Employees of the Employer to enter into an agreement which will provide for deferral of payment of a portion of his or her current compensation until death, retirement, Severance from Employment, or other event, in accordance with the provisions of the Code Section 457(b), with other applicable provisions of the Code, and in accordance with the General Statutes of the State. Status of Plan It is intended that the Plan shall qualify as an eligible deferred compensation plan within the meaning of Code Section 457(b) sponsored by an eligible employer within the meaning of Code Section 457(e)(1)(A), i.e., a State, political subdivision of a State, or agency or instrumentality of a State or political subdivision of a State. Tax Conseauences of Plan The Employer does not and cannot represent or guarantee that any particular federal or State income, payroll, or other tax consequence will occur by reason of participation in this Plan. A Participant should consult with his or her own counsel or other representative regarding all tax or other consequences of participation in this Plan. Specimen 457(b) Plan Document Deferred Compensation Plan 33