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• <br />The Indian River County Sheriffs Office has requested that the universe of <br />available deferred compensation plans be expanded to include Hartford Life <br />Insurance Companies and John Hancock Financial Services on an optional basis <br />to employees. <br />The ordinance, as amended, would designate the Personnel Director to make <br />the determination that the deferred compensation plan will not be included in the <br />employee's taxable income under federal and state law until actually received, <br />but will nonetheless be deemed compensation at the time of deferral for <br />purposes of Social Security coverage, the retirement system or other benefit <br />programs. Such determinations with respect to the employees of the <br />constitutional officers would be made by the constitutional officer or someone <br />they designate within their organization unless they designate to the County <br />Personnel Director to make such determinations. <br />RECOMMENDATION: <br />After. public hearing input, adopt the ordinance as presented with any <br />modifications deemed necessary after public hearing. <br />The Chairman opened the public hearing and asked if anyone wished to be heard <br />regarding this matter. There being none, the Chairman closed the public hearing. <br />ON MOTION by Commissioner Grin, SECONDED <br />by Commissioner Tippin, the Board unanimously <br />adopted Ordinance 99-032 amending Chapter 104, <br />Personnel, of the Indian River County Code, to <br />include two additional vendors for the Employee <br />Deferred Compensation Plan (Hartford Life <br />Insurance Companies and John Hancock Financial <br />Services). <br />NOVEMBER 16, 1999 <br />-43- B0iiK <br />f� uE <br />0 <br />J <br />