25-0581

Treasurer-Tax Collector recommending the Board: 1) Adopt and authorize the Chair to sign Resolution 046-2025 establishing the County of El Dorado 401(a) Deferred Compensation Plan for Eligible Employees, approving the 401(a) Plan documents, authorizing the Treasurer-Tax Collector to execute documents implementing the 401(a) Plan, and directing the Auditor-Controller to implement the 401(a) Plan contributions; 2) Approve and authorize the Treasurer-Tax Collector to execute the Administrative Services Agreement 9518 with Nationwide Retirement Solutions, Inc. to provide record keeping and administrative services for the 457(b) Deferred Compensation Plan, Deferred Compensation Plan for Social Security Replacement for Part-Time, Seasonal, and Temporary Employees (OBRA Plan), and 401(a) Deferred Compensation Plan for Employer Contributions for an initial term of five (5) years from date of execution, with renewal of up to five (5) additional one-year periods for a total agreement term of ten (10) years, at the annualized compensation of 0.15% (15 basis points) of the Plans' account value to be funded out of the participants' assets in the Plans; and 3) Authorize the Treasurer-Tax Collector to execute further amendments to Administrative Services Agreement 9518, including renewal options, that do not increase the compensation or the total agreement term, contingent upon County Counsel and Risk Management approval. FUNDING: N/A

Agenda Item Approved Introduced March 19, 2025

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