HomeMy WebLinkAbout06-123RESOLUTION DECLARING OFFICIAL INTENT
OF THE COUNTY OF BUTTE
TO RENEGOTIATE AND ENHANCE THE CURRENT
457(b} CONTRACT WITH
GREAT-WEST RETIREMENT SERVICES
WHEREAS, the County of Butte (the "County"} has a current contract with
Great-West Retirement Services to provide a 457{b) Deferred Compensation Plan for the
employees of the County;
WHEREAS, the County feels that it is in the mutual best interest of both the
County and Great-West to extend and enhance certain provisions of their existing
agreement;
NOW, THERFORE, THE BOARD OF SUPERVISORS OF THE COUNTY
OF BUTTE, in regular session assembled on August 8, 2006, resolves, finds, determines
and orders as follows:
Section 1. The County finds and determines that the foregoing recitals axe true
and correct.
Section 2. This resolution applies to the document entitled Fund Changes for the
Butte County Full Time & 3121 Plan Deferred Compensation Plans Contract Number(s)
9$466-01, & 02. The document represents authorization to map aver participant
contributions in the Guaranteed Fixed Fund to the replacement Fund titled Guaxanteed
Government Fund, per the terms stated in the Fund Change document. This change is
being made according to the guidelines in the plan's investment policy statement. The
transaction is solely for the purpose of enhancing and extending the existing contract
between Great-West and the County of Butte to provide 457(b) Deferred Compensation
services for the employees of the County of Butte. This resolution provides the authority
far such actions.
Section 3. Thais resolution shall take effect as soon as administratively feasible
from and after its adoption by the Board of Supervisors.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 8~' day of
August, 2006 by the following vote:
AYES: Supervisors Connel.l.y, Dolan, Houma, Yamaguchi:.anil..~hair Josiassen
NOES: Supervisors None
ABSENT:
Supervisors None
NOT VOTING: Supervisors
i, Chair
Board of Supervisors
Attest:
Paul McIntosh
Chief Administrative Officer
and Clerk of the Board of Supervisors
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