Resolution 161-2000 Board of County Commissioners
RESOLUTION NO. 16 L2000
A RESOLUTION APPROVING THE VARIABLE ANNUITY LIFE INSURANCE COMPANY (VALIC),
AN ALTERNATIVE PROVIDER OF A QUALIFIED DEFERRED COMPENSATION PLAN, TO
OFFER THEIR PLAN TO COUNTY EMPLOYEES.
WHEREAS,the Monroe County Board of County Commissioners granted the County Administrator the
right to negotiate with providers of deferred compensation plans by passage of Ordinance No. 037-1998,
WHEREAS, the County Administrator has selected a provider whose plan is qualified under section
457(b) of the Internal Revenue Code of 1986, as amended. Said section provides for the deferral of income for
income tax purposes until the income is actually received by the participant,but is not deferred for social security
coverage.
WHEREAS, the Monroe County Board of County Commissioners grant approval to sign the necessary
documents to allow Valic to become a deferred compensation provider to Monroe County Employees. This
resolution shall become effective when said documents are fully executed.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County, Florida, at a
regular meeting of said Board held on the 19th day of April,2000.
Mayor Shirley Freeman Yes
Commissioner Wilhelmina Harvey Yes
Commissioner George Neugent Yes
•
/ $ Commissioner Mary Kay Reich Yes
Commissioner Nora Williams Yes
(SEAL)
ATTEST: .Danny L. Kolhage,Clerk BOARD OF COUNTY
• COMMISSIONERS
OF MONROE COUNTY,FLORIDA
CSLAjey5FAX.Q.0414A.4244.0
By:
(D uty Cle A1-'1.4'11L (Mayor)
14.A1H(lO3 30UHOW
'13 ' H3 413
ant° ti ! A =tea d
CS :a Nd C . AN 00 APPROVED AS TO FORM
AND LE SUFFICIEN
02303321 80J 03 11.i _ �.►.4i4�
6Y
� VNVerrO.
- .rc