Item M2
Revised 2/95
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: May 17 - 18. 2000
Bulk Item: Yes 181 No D
Division: Countv Administrator
Department: Countv Administrator
AGENDA ITEM WORDING: Aooroval of resolution allowina Metrooolitan Life Insurance
Comoany (Metlifel. an alternative orovider of a aualified deferred comoensation olan. to
offer their clan to countv emoloyees and aooroval of the necessary documents to
accomolish same. Forms attached: Form 2678 Emoloyer Aooointment of Aaent: IRC
457(b) Plan Fundina. Certification and Particioation Aareement and 457 Plan Waae
Withholdina. Form W2 Reoortina Service Aareement and Contract (form G3068)
ITEM BA~KGROUND: The Emoloyee Relations Committee has reauested additional
investment ootions to PEBSCO for several Years. We contacted 62 oroviders of
Deferred Comoensation Plans and had resoonses from six oroviders.
PREVIOUS RELEVANT BOCC ACTION: Aooroval of Ordinance 037-1998 on the 12th
day of November 1998. allowina the Countv Administrator to neaotiate with oroviders of
deferred comoensation olans.
STAFF RECOMMENDATION: Aooroval
TOTAL COST: None
BUDGETED: Yes D No D
COST TO COUNTY: Minimal administrative assistance for scheduling locations for
Metlife to meeting with employees and accounting for participant contribution.
REVENUE PRODUCING: No XX
AMOUNT PER MONTH
YEAR
APPROVED BY: COUNTY ATTY 0 OMB/PURCHASING D RISK MANAGEMENT D
DIVISION DIRECTOR APPROVAJ P. ~ ~~
'James L Roberts
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DOCUMENTATION: INCLUDED: TO FOLLOW: ~ NOT REQUIRED: 0
DISPOSITION:
AGENDA ITEM #: /- /J!1 ~
AGENDA ITEM WITH LATE DOCUMENTATION
DIVISION County Administrator
DEPARTMENT County Administrator
SUBJECT Approval of resolution allowing Metropolitan
Life Insurance Company to offer their plan to County
employees and approval of the necessary documents.
DATE ITEM WILL BE AVAILABLE 5/12/00
AGENDA ITEM NUMBER 1-M2