HomeMy WebLinkAbout2010-320ATRUST JOINDER AGREEMENT
FOR DEFERRED COMPENSATION PLANS UNDER
FLORIDA MUNICIPAL PENSION TRUST FUND
MASTER TRUST AGREEMENT
THIS TRUST JOINDER AGREEMENT, between the Indian River County Board of
County Commissioners, (herein referred to as the "Participating Employer") and the Master
Trustees of the Florida Municipal Pension Trust Fund (herein referred to as the "Master
Trustee").
WITNESSETH:
WHEREAS, the Participating Employer desires to provide a deferred compensation plan
for the sole and exclusive benefit of its Participating Employees and their Beneficiaries, and for
such purposes adopted Resolution No. 2010 - 12 5 on the 21st day of December, 2010
providing for the establishment of a deferred compensation plan;
WHEREAS, said Resolution authorizes participation in the Florida Municipal Pension
Trust Fund ("FMPTF") and further authorizes the execution of this Trust Joinder Agreement to
become a party to the FMPTF Master Trust Agreement; and
WHEREAS, the Participating Employer desires to submit this Trust Joinder Agreement
to the Master Trustee to become a party to the FMPTF Master Trust Agreement;
THEREFORE, in consideration of the mutual covenants and agreements flowing to each
of the parties hereto, it is agreed as follows:
1. Both parties to this Trust Joinder Agreement agree that the Indian River County
Board of County Commissioners is a Participating Employer as provided in the
Florida Municipal Pension Trust Fund Master Trust Agreement ("Master Trust
Agreement').
2. As provided in the plan provisions selected by the Participating Employer, the
Participating Employer shall make timely contributions or shall timely forward
contributions made by Participating Employees for the deferred compensation plan.
3. As provided in the plan provisions selected by the Participating Employer, the
Participating Employer shall timely remit or timely approve the remittance of
administrative fees as may be due under the deferred compensation plan.
4. The Participating Employer agrees to provide all initial and update all relevant
Participating Employee information required under the deferred compensation plan to
the Administrator designated by the Master Trustee. The Participating Employer
shall certify said information to be correct to the best of its knowledge and the Master
Trustee and the Administrator shall have the right to rely on the accuracy of said
information in performing contractual responsibilities.
5. The Participating Employer has the responsibility to provide the Administrator
designated by the Master Trustee, in a timely manner, all information concerning
Participating Employee termination. The Participating Employer shall certify said
information to be correct to the best of its knowledge and the Master Trustee and the
Administrator shall have the right to rely on the accuracy of said information in
performing contractual responsibilities.
6. The parties to this Trust Joinder Agreement agree to abide by and be bound by the
terms, duties, rights and obligations of the parties as set forth in the Florida Municipal
Pension Trust Fund Master Trust Agreement, as may be amended by the Master
Trustees, which is attached hereto and is made a part of this Trust Joinder Agreement.
7. Either parry may terminate this Trust Joinder Agreement by giving at least 60 days
notice in writing to the other party. Any termination shall be governed by the
provisions of the Florida Municipal Pension Trust Fund Master Trust Agreement and
the plan document for the deferred compensation plan.
IN WITNESS WHEREOF, the Participating Employer has caused this Trust Joinder
Agreement to be executed and the signature of its authorized officer affixed this 2151 day of
December, 2010.o".,W &..'YY•
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ATTEST
kRD OF COUNTY COMMISSIONERS
,IAN RIVER COUNTY, FLORIDA
'Q•iBy: G �r-P C�iia.ir�• a.
Clerk °oye_• '�� + ...�oQd° Bob Solari, Chairman
J.K. BARYON Liuur+•
YY... XXXY•
CLERK CIRCUIT COURT Date: 12-21-10
APPROVED AS TO FORM AND C CTNESS
By: � _ -
Alan Polackwich, County Attorney
FLORIDA MUNICIPAL PENSION TRUST FUND
IIn
Secretary — Treasurer
Date: